US equity markets retreated from record highs amid a sharp escalation in geopolitical tensions in the Middle East after a US military air strike killed the leader of the foreign wing of Iran’s Islamic Revolutionary Guard Corps, Qassem Soleimani - Dow down -234-points or -0.81%, paring an opening -360 point drop. The broader S&P500 -0.71%, with the more defensive Real Estate (up +0.81%) and Utilities (+0.11%) sectors the only primary sectors to advance. Materials (down _1.62%) and Financials (-1.10%) logged the largest sector declines. A surge in oil prices weighed on airline stocks, with American Airlines Group Inc down -4.95%, Delta Air Lines Inc -1.66% and United Airlines Holdings Inc -2.05%. The technology-centric NASDAQ fell -0.79%. Tesla Inc gained +3.0% after the electric vehicle maker reported fourth quarter delivery data of 112K vehicles that met its full-year guidance range. For 2019, Tesla said it delivered 367,500 vehicles, up 50% from a year ago, and in line with its guidance range of 360,000 to 400,000 vehicles. All three benchmark indices finished off their lows for the session. For the holiday-shortened week, the Dow lost -0.04% and the S&P500 -0.16%. However, the Nasdaq eked out a weekly rise of +0.16%.