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Wall Street has its worst day since the war with Iran started and crude oil prices rise
The S&P 500 fell 1.7%, marking its worst day since January and fifth straight losing week as oil prices rose over 4% amid renewed Iran conflict and rising inflation fears.
- U.S. stocks slid sharply on Thursday, with the S&P 500 falling 1.7% and the Nasdaq sinking 2.4%, putting major indexes on track for a fifth straight losing week. The Dow Jones Industrial Average dropped 1%.
- Rising oil prices fueled the decline as Iran tightened control of the Strait of Hormuz, which carries one-fifth of global oil. Brent crude climbed 4.8% to $101.89 per barrel, creating a "toll booth" effect for tankers.
- The jump in energy prices pushed the 10-year Treasury yield to 4.41%, increasing borrowing costs for households and businesses. Meta Platforms fell 8.1% and Alphabet sank 3.3% in a landmark social-media addiction trial aftermath.
- President Donald Trump softened his rhetoric Thursday, delaying a threat to "obliterate" Iranian power plants until April 6 to allow more time for talks. Trump stated, "They better get serious soon, before it is too late."
- This sustained downturn marks the longest losing streak in nearly four years, reflecting deep market uncertainty. Apple was an outlier, inching up 0.1%, as investors weigh potential for further economic pain.
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The Billings Gazette+35 Reposted by 35 other sources
Wall Street drops again to close its 5th straight losing week and its worst since the Iran war
NEW YORK — U.S. stocks deepened their drops Friday as Wall Street finished off a fifth straight losing week, its longest such streak in nearly four years.
·Billings, United States
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Coverage Details
Total News Sources101
Leaning Left23Leaning Right8Center53Last UpdatedBias Distribution63% Center
Bias Distribution
- 63% of the sources are Center
63% Center
L 27%
C 63%
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