Wall Street drops again to close its 5th straight losing week and its worst since the Iran war
Wall Street has closed its fifth straight losing week, with the S&P 500 falling 1.7% to its worst week since the Iran war began. The Dow Jones Industrial Average lost 793 points, and the Nasdaq composite sank 2.1%, as oil prices eased but then resumed their climb amid ongoing fighting in the Middle East.
US stocks deepened their drops on Friday, finishing off a fifth straight losing week. The S&P 500 fell 1.7% to close its worst week since the Iran war began. The Dow Jones Industrial Average lost 793 points, and the Nasdaq composite sank 2.1%. Oil prices climbed, with Brent crude rising 3.4% to $105.32 per barrel. The fear is that the war will disrupt the Persian Gulf's energy industry, leading to inflation and higher prices. Most stocks fell, including Big Tech stocks like Amazon and Meta Platforms.
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