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 war with Iran began. The Dow Jones Industrial Average lost 793 points, and the Nasdaq composite sank 2.1 per cent, amid ongoing concerns about the war's impact on the global economy.
US stocks deepened their losses on Friday, with the S&P 500 falling 1.7 per cent. The Dow Jones Industrial Average lost 793 points, and the Nasdaq composite sank 2.1 per cent. Oil prices rose, with Brent crude climbing 3.4 per cent to $105.32 per barrel. The war in the Middle East is causing concerns about disruptions to the energy industry, potentially leading to inflation and economic instability. The S&P 500 is now 8.7 per cent below its all-time high set in January. Big Tech stocks, including Amazon and Nvidia, were among the heaviest weights on the market.
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