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 fell on Friday, marking the fifth straight losing week. The S&P 500 fell 1.7% to close at 6,368. The Dow Jones Industrial Average lost 793 points, and the Nasdaq composite sank 2.1%. Oil prices climbed 3.4% to $105.32 per barrel. The ongoing war in the Middle East is disrupting the energy industry, causing concerns about inflation and economic impact. Most stocks fell, including Big Tech stocks like Amazon and Meta Platforms. The S&P 500 is 8.7% below its all-time high set in January.
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