Several Iranian missiles breached the Iron Dome and reportedly hit key defence sites in Israel. Huge explosions lit the night skies over Jerusalem and Tel Aviv as residents watched in shock.

Israel attacked Iran early Friday and killed many of the country’s top military leaders and scientists. Iran retaliated with missiles and drones.

If prices go up, Fed officials may be inclined to raise its benchmark rate, raising borrowing costs for businesses and consumers. That could lead to businesses to cut jobs, particularly in the high-growth tech sector, and force Americans to pull back on spending, which drives more than 70% of economic activity in the U.S.

Israel's surprise attack on Iran had an obvious goal of sharply disrupting Tehran's nuclear programme and lengthening the time it would need to develop an atomic weapon.

The price of oil surged Friday in one of the market’s largest single-day increases in years, reflecting fears that a wider conflict in the Middle East could lead to serious energy supply disruptions.