U.S. stock futures tumbled after Israel launched airstrikes against Iran. Israel’s defense minister Israel Katz declared a special state of emergency following the attack. Iran has launched retaliatory drone strikes on Israel.

The Middle East conflict is impacting a wide range of sectors besides the obvious oil and defense names, as a surge in oil prices can affect consumer behavior in many ways.

Global stocks fell off a cliff in early Friday trading after Israel struck targets in Iran, killing Iranian military leaders and targeting the country’s main nuclear enrichment facility. The Dow Jones Industrial Average of big U.