S&P 500 Drawdown Reflects War Risk and Oil-Driven Inflation Pressure
The S&P 500 has entered correction territory due to war risk and oil-driven inflation pressure. The market is trading on war dispatches, with President Trump's statements driving futures higher and pulling oil off its session extremes.
The S&P 500 has fallen to its lowest closing level since August. The Dow shed nearly 800 points on Friday, entering correction territory. Oil prices rose, with Brent briefly hitting $115. President Trump's statements on Iran drove futures higher. The market is trading on war dispatches, not earnings momentum or Fed policy. Trump threatened to blow up Iran's oil wells and electric plants if a deal is not reached. The US is weighing a ground operation to extract uranium from Iranian sites.
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