Wall Street drops again to close its 5th straight losing week and its worst since the Iran war
US stocks have fallen for the fifth straight week, with the S&P 500 experiencing its worst week since the Iran war began. The Dow Jones Industrial Average lost 793 points, and the Nasdaq composite sank 2.1%, amid ongoing concerns about the war's impact on the global economy and oil prices.
US stocks deepened their losses on Friday, marking the fifth straight losing week. The S&P 500 fell 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%. Oil prices eased after President Trump extended a deadline for Iran to allow oil tankers to exit the Persian Gulf. Despite this, fighting continued in the Middle East, and oil prices resumed their climb. The price of Brent crude oil rose 3.4% to $105.32 per barrel. The ongoing war has raised concerns about disrupting the energy industry and causing inflation. Most stocks fell, including Big Tech stocks like Amazon and Meta Platforms.
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