Markets point lower and crude prices jump following worst day on Wall Street since Iran war began
US stocks fell on Friday, marking the fifth straight losing week, as crude prices jumped due to ongoing tensions in the Middle East. The S&P 500 fell 1.7% to close its worst week since the war with Iran began, with oil prices rising 3.4% to $105.32 per barrel.
US stocks deepened their drops on Friday. The S&P 500 fell 1.7% and the Dow Jones Industrial Average lost 793 points. Crude prices jumped due to ongoing tensions in the Middle East. The price for a barrel of Brent crude oil climbed 3.4% to settle at $105.32. The fear is that the war will disrupt the Persian Gulf's energy industry, leading to inflation. Most stocks fell, including Big Tech stocks like Amazon and Meta Platforms. Companies selling non-essentials also sank sharply.
This content was automatically generated and/or translated by AI. It may contain inaccuracies. Please refer to the original sources for verification.