Stock market today: Here are the winners and losers following Iran attacks

NYSE trader at his desk looking at a screen

The conflict with Iran has rattled markets, with stocks down and oil spiking.
Gold rose as fresh geopolitical conflict added to the metal’s bull case.
Energy and defense stocks rallied, while travel shares among airlines, cruises, and hotels dropped.

Markets have been roiled by the attacks against Iran by the US and Israel over the weekend, with a handful of winners and losers emerging in the immediate aftermath.

Investors are concerned that the attacks, which killed Iran’s Supreme Leader Ali Khamenei, could drag on into a larger regional conflict that sends energy prices spiraling higher. The Strait of Hormuz is a key area of concern, as it carries about 20% of the world’s oil.

In the US, investors largely dumped stocks and flocked to areas of safety, with the Dow dropping 500 points early Monday. Here were the market’s most notable movers.

The winners

Oil wells are used to drill for oil. — Brent crude prices rose to their highest level in 8 months following the attack on Iran. Pavel Mikheyev/Reuters

Energy stocks were among the market’s biggest gainers as oil prices jumped. Brent crude, the international benchmark, surged 7% Monday morning to trade at $77 a barrel, its highest level in about eight months.

Here were the biggest movers in the sector:

A large plume of grey smoke from a port area, with red and white bollards in the foreground — Smoke billowed from Dubai’s Jebel Ali port after an Iranian attack. Authorities pointed to shrapnel from an aerial interception. Raghed Waked/REUTERS

Defense stocks also rose as investors took in the potential for extended military action. The iShares US Aerospace & Defense ETF rose 2%.

Gold also climbed higher as investors flocked into alternative assets. The metal was trading at about $5,351 an ounce, up 2%.

Geopolitical strife has been at the heart of gold’s bull case over the last year, and analysts say it could extend gains amid the latest conflict. Commentators on Monday said they see the precious metal closing in on $6,000 an ounce in the months ahead.

The losers

A line of airplanes sitting on the tarmac behind a wire gate

Travel stocks were widely impacted at the start of trading on Monday, with widespread air traffic disruptions as a result of conflict.

Global airline stocks tumbled, with the US Global Jets ETF down nearly 4% early Monday.

A cruise ship sitting at a port with tourists waiting outside

Cruise stocks sank amid uncertainty hanging over the travel and tourism sector in the Middle East. Dubai, one of the world’s largest luxury tourist hubs, was impacted by the attacks over the weekend as Iran retaliated against US regional allies.