Stocks fell sharply and oil prices soared Friday as Israel launched strikes against Iran's nuclear program and key personnel, heightening concerns about the possibility of a broader conflict in the region.

U.S. stocks were sharply down Friday, after Israel launched strikes on Iran's nuclear sites. But major benchmarks were off their morning lows.

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.