Stocks tumble Friday as losses mount from Iran war impact, Dow and Nasdaq near correction Friday’s trading saw steep declines across major U.S. stock indices as tensions between the U.S., Israel, and Iran escalated, with oil prices surging amid renewed attacks on energy infrastructure. The Dow Jones Industrial Average dropped 443.96 points, or 0.96%, closing at 45,577.47, while the S&P 500 fell 1.51% to 6,506.48 and the Nasdaq Composite lost 2.01% to 21,647.61. The Russell 2000 small-cap index also declined over 2%, entering correction territory, though it closed below the 10% threshold. The market’s downturn followed overnight strikes between Iran and Israel, with Iran launching new attacks on energy sites in the Persian Gulf. U.S. officials confirmed that the Pentagon is deploying additional Marines to the Middle East, and reports indicated preparations for potential ground troop movements to Iran. These developments intensified fears of prolonged geopolitical instability, which analysts warned could sustain higher oil and gas prices. Oil prices surged as Iraq declared force majeure on all foreign-operated oilfields, citing disruptions in the Strait of Hormuz due to Iranian attacks. Brent crude futures hit $113 per barrel, while U.S. crude oil rose above $98. The move sent energy sector stocks lower, with utilities and real estate also suffering significant declines. Tech leaders like Nvidia and Tesla fell 3%, while the broader market saw 80% of S&P 500 stocks drop. Investment strategists highlighted the market’s vulnerability to ongoing uncertainty. Ross Mayfield of Baird noted that equity declines had not yet fully reflected the geopolitical risks, suggesting further volatility could follow. Art Hogan of B.#iran #pentagon #israel #brent_crude #us_dow
