12:31 PM EDT, 06/13/2025 (MT Newswires) -- US equity indexes dropped after midday trading Friday after Israel's strikes against Iran sent crude oil and gold futures sharply higher.

The Dow Jones Industrial Average dropped 1.2% to 42,454.1, the Nasdaq Composite was down 0.8% to 19,500.3, and the S&P 500 was 0.7% lower at 6,004.4. Among sectors, energy led the gainers, while financials and real estate were the steepest decliners.

Israel launched air strikes on Iran using 200 fighter jets, targeting its nuclear program and military leaders. Prime Minister Benjamin Netanyahu reportedly said the attack will last many days, while Iran retaliated with 100 drones targeting Israel.

"The Zionist regime's acts of aggression against Iran could not have been carried out without the coordination and approval of the United States," Iran's foreign affairs ministry said in a statement on the website of its embassy in Switzerland. "Consequently, the US government, as the primary patron of this regime, will also bear responsibility for the dangerous repercussions of the Zionist regime's reckless actions."

US Secretary of State Marco Rubio said in a statement that the US was not involved in the operation. "We are not involved in strikes against Iran and our top priority is protecting American forces in the region," according to Rubio.

West Texas Intermediate crude oil futures surged 5.8% to $72 a barrel.

Most US Treasury yields rose, with the 10-year up 5.9 basis points to 4.42% and the two-year rate 6.1 basis points higher at 3.96%.

Gold futures surged 1.6% to $3,456.2 per ounce.

Meanwhile, in economic news, the University of Michigan's preliminary consumer sentiment index rose to 60.5 in June from 52.2 in May, compared with expectations for a smaller increase to 53.6 in a survey compiled by Bloomberg.