The escalation of hostilities following Israel's strikes against Iranian assets precipitated a vertiginous surge in crude oil prices and a concomitant slump in equities trading on Friday, fuelled by anxieties regarding potential disruptions to the global crude supply chain and overall economic stability; the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all registered precipitous declines, while West Texas Intermediate crude futures spiked by 7.3% to $72.98 per barrel. Despite analysts positing that such parabolic oil price spikes typically abate once the imminence of further escalation diminishes, Wall Street remains assiduously monitoring developments; in response, fuel-dependent sectors and consumer discretionary plays reliant on travel, such as Carnival Corporation and United Airlines, sustained significant losses, counterbalanced by gains in US oil producers, defense contractors, and gold bullion; notwithstanding these market perturbations, inflation metrics remain comparatively quiescent, albeit with lingering trepidation concerning potential acceleration predicated upon President Trump's proposed tariffs.