Dow tumbles more than 360 points on fears of potential attack by Iran and inflation woes
CNN
US stocks slid Friday morning as Wall Street worried about escalating tension in the Middle East and sticky inflation.
US stocks slid Friday morning as Wall Street worried about escalating tension in the Middle East and sticky inflation. The Dow fell 361 points, or 0.9%. The S&P 500 declined 1% and the Nasdaq Composite lost 1.3%. The US and Israel are on alert for a potential attack by Iran or its proxies after an Israeli strike in Damascus last week. Oil prices spiked on Friday on fears of intensifying regional tensions stoked by the war in Gaza. Brent crude futures, the international benchmark for oil, rose to about $92 a barrel, touching its highest level since October. West Texas Intermediate crude futures, the US benchmark, climbed to $87.37 a barrel. Energy and utility stocks were some of the only areas of the market that rose Friday morning. The price of the most actively traded gold futures contract rose to roughly $2,441 a troy ounce. The yellow metal is seen as a haven investment.
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