US Edition
Dow Closes Down Nearly 800 Points as Iran War Hits One-Month Mark
Technology stocks led declines as the S&P 500 dropped 2.1% this week amid inflation concerns and uncertainty from the Iran-led Middle East conflict.
- Stocks finished a fifth straight losing week as The Nasdaq and The Dow dropped to their lowest levels in more than six months, with the month-long Middle East war weighing on investor sentiment.
- Rising Oil prices and diplomatic dissonance between Iran and Israel drove the market decline, with Benchmark crude rising 5.5% to settle at $99.64 per barrel.
- Big Tech stocks led the slide with drops of 4% for Amazon, 4% for Meta Platforms, and 2.2% for Nvidia, as investors reacted to the "diplomatic dissonance" described by Doug Beath, global equity strategist at Wells Fargo Investment Institute.
- Inflation fears have surged, with Money market participants now pricing in no easing from the Federal Reserve this year, compared with two cuts anticipated before the conflict broke out.
- Strategists at Macquarie warn that if the war continues until the end of June, Oil prices could reach $200 per barrel, potentially eclipsing the 2008 record of just above $147.
24 Articles
24 Articles
Stocks Post Worst Week Since Start of Iran War
US stocks deepened their drops Friday as Wall Street finished a fifth straight losing week, its longest such streak in nearly four years. The Dow fell 793.47 points, or 1.7%, to 45,166.64, down 1.7% for the week. The S&P 500 fell 108.31 points, or...
By John Towfighi, CNN en Español. U.S. stocks fell and the Dow closed in correction on Friday as uncertainty over the duration of the Iran-Contra trade war and nerves about energy inflation continued to weigh on markets. The Dow dropped 793 points, or 1.73%, to close at 45,167, 10% below its peak above 50,000 in February. The S&P 500 fell 1.67% and the Nasdaq declined 2.15%. The Dow, S&P 500, and Nasdaq each closed at their lowest levels since A…
New Hampshire Union Leader
The Straits TimesStocks tumble, Dow confirms correction territory, as Middle East tensions drag
U.S. stocks tumbled on Friday, with each of the three major indexes closing at their lowest levels in over seven months and the Dow confirming it was in correction territory as the month-long Middle East war continued to suppress risk…
US President Trump has extended his ultimatum to Iran, but the Strait of Hormus remains a cause for concern for investors. Two ships had to reverse, oil prices continued to rise.
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