US markets continued to decline for a third day in a row on April 12, as several major banks started off the corporate earnings seasons with poor results. The looming geopolitical pressures further pulled the indices into the red as news reports on Israel bracing for an unprecedented attack by Iran on government targets spread.

At 9:30 pm IST, the S&P 500 tumbled one percent to 5,147.24 and the Nasdaq Composite fell 1.12 percent to 16,257.53. The Dow Jones Industrial Average also declined by nearly a percent to 38,141.86.

“Treasuries climbed across the US curve as the greenback hit the highest in 2024. And Friday’s economic data did little to alter the reduced risk appetite — with consumer sentiment down as inflation expectations rose,” reported Bloomberg. The article added that investors fled to safer corners of the market, from bonds to gold and the dollar.

The GIFT Nifty declined 0.59 percent to 22,453.00 following the one percent fall in NSE Nifty 50 earlier in the day.

European markets traded mixed with FTSE edging higher as Britain’s economic output (GDP) comes in line with expectations, up 0.1 percent in monthly terms in February. With hopes for the economy soon exiting its shallow recession, FTSE surged nearly a percent to 7,995.58. However, the DAX traded 0.13 percent lower at 17,930.32 and the CAC was down 0.16 percent at 8,010.83.

Earlier during the day, the Asian markets traded mixed. The Nikkei ended 0.21 percent higher at 39,523.55. However, the Hang Seng was dragged 2.18 percent lower to 16.721.69 by China’s shrinking exports and imports for March.

The Indian indices descended from their all-time highs and ended in the red on Friday owing to weak global cues. Nifty fell over 1 percent to 22,519.40 and the Sensex ended 1.06 percent lower at 74,244.90.

DIIs net purchased Rs 6,341.53 crores while FIIs/FPIs net sold Rs 8,027.00 crores.

Crude jumped on Friday as Israel prepared for a potential attack by Iran. WTI crude was up 1.46 percent at 86.26 and Brent surged 1.27 percent higher to 90.88.