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Dow Closes in Correction, S&P Logs Longest Weekly Losing Streak in Four Years and Oil Settles at Iran-War Highs
Investor concerns over the Iran war and inflation pushed major US stock indexes to their lowest levels this year as oil prices rose sharply above $112 a barrel.
- On Friday, the Dow Jones Industrial Average closed with a loss of nearly 800 points, falling 1.7% to 45,167 and entering correction territory after dropping more than 10% from its February peak.
- Uncertainty regarding the month-long war with Iran and energy inflation weighed on investors, with Brent crude rising 4.22% to $112.57 per barrel as Iran effectively closed the Strait of Hormuz.
- Investors pushed the 10-year yield to around 4.44%, while CNN's Fear and Greed index hit its lowest level since November, hovering in "extreme fear" as volatility gripped Wall Street.
- Addressing agriculture sector pressures, the White House announced Friday a series of steps aimed at providing relief to farmers facing issues caused by the conflict.
- Grace Zwemmer, U.S. economist at Oxford Economics, wrote that a sustained recovery in consumer sentiment will likely be delayed as long as the war persists and higher energy prices lift inflation.
14 Articles
14 Articles
Dow falls into correction as Iran war shakes Wall Street
Stocks closed the week with sharp losses Friday as Wall Street sought refuge from the financial blowback of the war in Iran. The Dow Jones Industrial Average closed with a loss of nearly 800 points Friday, falling 1.7 percent on the day. The index closed at 45,166.64 points, down more than 10 percent from its…
Dow closes in correction, S&P logs longest weekly losing streak in four years and oil settles at Iran-war highs
US stocks slid and the Dow closed in correction Friday as uncertainty about the duration of the war with Iran and nerves about energy inflation continued to weigh on markets.
The nervousness is increasing again on Wall Street. The S&P records the biggest losses since the beginning of the Iran war. Meanwhile, Trump is trying to de-escalate politically.
US Stock Market This Week: Dow Enters Correction as S&P 500, Nasdaq Sink on Oil Shock
The Dow Jones Industrial Average fell 793.47 points Friday, entering correction territory as U.S. stocks closed at seven-month lows and capped five straight weekly losses. Megacap tech and consumer shares led declines, with Nvidia down 2.2% and Amazon off 4%. Oil prices surged amid Middle East tensions, while consumer sentiment dropped and inflation expectations rose. The post US Stock Market This Week: Dow Enters Correction as S&P 500, Nasdaq S…
The war in the Middle East and the closure of the Strait of Ormuz raise crude oil to multi-year peaks and force the market to recalibrate inflation, rates and corporate profits.
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