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

Contracts tied to the Dow fell 453 points, or 1%. S&P futures dropped 57 points, or 0.95%, while Nasdaq futures declined 273 points, or 1.23%.

U.S. stock futures have already pared about half of their overnight drop as some of the initial reaction seen across global markets has started to unwind. Oil prices have come off their highs after spiking 14%.

Coinbase plans to launch perpetual futures trading in the United States, with the offering set to comply with regulatory standards outlined by the Commodity Futures Trading Commission, a top executive at the crypto exchange said on Thursday.

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

S&P 500 futures are down 0.3%. Dow Jones Industrial Average futures are slipping 0.3%. Nasdaq 100 futures are falling 0.4%. On Wednesday, the Dow Jones Industrial Average fell 1 points, or 0%, to 42,866,

Trump said he plans to send letters to U.S. trading partners over the next two weeks offering them unilateral tariff deals, and they can choose to “take it or leave it.”