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Dow And Nasdaq End Fifth-Straight Losing Week In Correction
Rising oil prices hit $97.28 per barrel amid Middle East conflict, pushing Treasury yields higher and causing Wall Street's longest losing streak in nearly four years.
- Wall Street concluded its fifth straight losing week on Friday as stocks fell amid escalating Middle East conflict, with the Dow Jones Industrial Average dropping 1.7% and Brent crude climbing.
- Iran's blockade of the Strait of Hormuz and attacks on facilities pushed crude oil above $100 per barrel, as President Donald Trump extended a self-imposed deadline to "obliterate" Iran's power plants to April 6 if tankers cannot exit the Persian Gulf.
- Long-Term Treasury yields climbed to 4.46% from 3.97% before the war began, sending mortgage and loan rates higher and slowing economic growth as concerns mount over prolonged oil production disruptions.
- Cornell economic historian Nicholas Mulder says it is "reasonable to assume" oil prices will climb several dollars daily as the war persists, potentially topping $120 per barrel by month's end.
- Traders have virtually eliminated hopes that the Federal Reserve could cut interest rates this year, and despite Trump's repeated deadline delays, fighting persists in the Middle East with no clear resolution.
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21 Articles
21 Articles
North Platte Nebraska's Newspaper+3 Reposted by 3 other sources
Wall Street closes 5th straight losing week
NEW YORK — U.S. stocks deepened their drops Friday as Wall Street finished off a fifth straight losing week, its longest such streak in nearly four years.
·North Platte, United States
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Wall Street marks its worst week since start of conflict in Iran
The S&P 500, Nasdaq and Dow Jones Industrial Average all sank on Friday, marking a fifth straight week of losses for U.S. markets. North of the border, Canada's main stock index closed in narrowly positive territory.
·Canada
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Total News Sources21
Leaning Left4Leaning Right1Center8Last UpdatedBias Distribution61% Center
Bias Distribution
- 61% of the sources are Center
61% Center
L 31%
C 61%
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