Wall Street drops again to close its 5th straight losing week, worst since Iran war
US stocks have dropped for the fifth straight week, the longest losing streak in nearly four years, due to ongoing tensions in the Middle East and rising oil prices. The conflict has led to increased oil prices, with Brent crude rising 3.4% to $105.32 per barrel, sparking fears of inflation and economic disruption.
US stocks fell on Friday, marking the fifth straight week of losses. The Dow Jones Industrial Average dropped due to rising oil prices and ongoing Middle East tensions. Oil prices rose after President Trump extended a deadline for Iran to allow oil tankers to exit the Persian Gulf. Despite this, fighting continued in the region, with Iran showing no signs of backing down. The price of Brent crude oil climbed 3.4% to $105.32 per barrel. Big Tech stocks, including Amazon and Meta Platforms, were among the hardest hit. The conflict has sparked fears of inflation and economic disruption, with strategists predicting oil prices could reach $200 per barrel if the war continues.
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