diff --git a/packages/core/core/src/Transformation.js b/packages/core/core/src/Transformation.js
index 321a327e315..33bdfe0ebda 100644
--- a/packages/core/core/src/Transformation.js
+++ b/packages/core/core/src/Transformation.js
@@ -83,7 +83,8 @@ export type TransformationOpts = {|
 |};
 
 export type TransformationResult = {|
-  assets: Array<AssetValue>,
+  assets?: Array<AssetValue>,
+  error?: Error,
   configRequests: Array<ConfigRequest>,
   invalidations: Array<RequestInvalidation>,
   invalidateOnFileCreate: Array<InternalFileCreateInvalidation>,
@@ -178,19 +179,25 @@ export default class Transformation {
       asset.value.isSource,
       asset.value.pipeline,
     );
-    let results = await this.runPipelines(pipeline, asset);
-    let assets = results.map(a => a.value);
+    let assets, error;
+    try {
+      let results = await this.runPipelines(pipeline, asset);
+      assets = results.map(a => a.value);
+    } catch (e) {
+      error = e;
+    }
 
     let configRequests = getConfigRequests([...this.configs.values()]);
     let devDepRequests = getWorkerDevDepRequests([
       ...this.devDepRequests.values(),
     ]);
 
-    // $FlowFixMe
+    // $FlowFixMe because of $$raw
     return {
       $$raw: true,
       assets,
       configRequests,
+      error,
       invalidateOnFileCreate: this.invalidateOnFileCreate,
       invalidations: [...this.invalidations.values()],
       devDepRequests,
diff --git a/packages/core/core/src/requests/AssetRequest.js b/packages/core/core/src/requests/AssetRequest.js
index 07db6a1e69f..c378f907e59 100644
--- a/packages/core/core/src/requests/AssetRequest.js
+++ b/packages/core/core/src/requests/AssetRequest.js
@@ -128,6 +128,7 @@ async function run({input, api, farm, invalidateReason, options}: RunInput) {
   let {
     assets,
     configRequests,
+    error,
     invalidations,
     invalidateOnFileCreate,
     devDepRequests,
@@ -138,8 +139,10 @@ async function run({input, api, farm, invalidateReason, options}: RunInput) {
   }): TransformationResult);
 
   let time = Date.now() - start;
-  for (let asset of assets) {
-    asset.stats.time = time;
+  if (assets) {
+    for (let asset of assets) {
+      asset.stats.time = time;
+    }
   }
 
   for (let invalidation of invalidateOnFileCreate) {
@@ -171,5 +174,9 @@ async function run({input, api, farm, invalidateReason, options}: RunInput) {
     await runConfigRequest(api, configRequest);
   }
 
-  return assets;
+  if (error != null) {
+    throw error;
+  } else {
+    return nullthrows(assets);
+  }
 }