Global financial markets came under pressure on Friday as Iran launched hundreds of missiles toward Israel in retaliation for earlier airstrikes on its nuclear and military facilities. The geopolitical escalation sparked fears of a wider Middle East conflict, leading to a steep sell-off on Wall Street and sharp gains in oil and gold. The S&P 500 fell 1.1%, while crude oil futures jumped 7.5%, their largest single-day gain in over two years. The VIX fear gauge surged past 20, reflecting growing anxiety among global investors. Gold hovered near all-time highs, while U.S. Treasury yields and the Swiss franc saw safe-haven buying.

In India, the BSE Sensex and NSE Nifty each fell 0.7%, with broad-based declines across oil-sensitive and globally exposed sectors. Companies such as BPCL, HPCL, IOC, Adani Ports, Infosys, and TCS saw notable drops. The India VIX rose up to 10%, echoing the global sentiment shift. Analysts warned that a prolonged oil surge could worsen inflation trends and hurt India's macroeconomic stability, despite easing domestic inflation. Technical analysts highlighted 24,500 as a key Nifty support level, with potential downside risks if the conflict escalates further. Investors continue to shift toward gold and defensive assets as uncertainty clouds global outlooks.