Oil prices leapt, and stocks fell on worries that escalating violence following Israel's attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.

The Dow dropped more than 750 points Friday as investors fret over the risk of a widening war in the Middle East.

U.S. oil prices jumped 2% to $74.50 per barrel, and Brent crude also shot up 2% to $75.77. That’s after oil soared 7% on Friday as markets reacted to the early stages of the Israel-Iran conflict.

The Dow Jones Industrial Average (DJINDICES: ^DJI) index edged 3.9% higher in May, with 70% of its 30 constituent stocks ending the month in positive territory. However, the two worst-performing Dow stocks in May -- both from the healthcare sector -- kept the index's rally in check, with one of them plunging over 25%.

Markets rebounded after Trump said his administration intends to send letters to US trade partners to formally establish new tariff terms.

The blue-chip Dow Jones Industrial Average was headed for its worst daily drop in almost a month on Friday as the Israel-Iran conflict rattles investors, after easing back from session lows. The Dow was down about 774 points,

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Stock futures fell sharply early Thursday, pointing to a rocky open as Wall Street grapples with a tragic plane crash involving Dow component Boeing (BA) and digests a blockbuster earnings report from software giant Oracle (ORCL).

The U.S. stock market ended sharply lower Friday, with all three major benchmarks under pressure as tensions in the Middle East ran high amid missile strikes between Israel and Iran. The Dow Jones Industrial Average dropped 769.

The major averages posted modest gains on Thursday, placing them on track for a winning week. Softer-than-anticipated inflation reports helped lift stocks.