Stocks Fall, Oil Prices Rise After Trump's Iran War Delay

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U.S. stocks are falling as Wall Street heads toward a fifth straight week of losses, the longest such streak in nearly four years. The S&P 500 dropped 0.7% and deepened its losses a day after its worst drop since the conflict with Iran began. The Dow Jones Industrial Average fell 319 points, and the Nasdaq composite sank 1.1%. President Donald Trump's latest delay in his threat to attack Iranian power plants saw oil prices briefly pull back late Thursday, but they resumed rising Friday as fighting continued in the Middle East.

Why it matters

The ongoing volatility in the stock market and rise in oil prices reflect the broader economic uncertainty caused by the escalating tensions between the U.S. and Iran. Investors are concerned about the potential for further military conflict and its impact on the global economy.

The details

Wall Street is facing its fifth straight week of losses, the longest such streak in nearly four years. The S&P 500 fell 0.7%, deepening its losses from the previous day when it had its worst drop since the conflict with Iran began. The Dow Jones Industrial Average dropped 319 points, and the Nasdaq composite sank 1.1%. President Trump's latest delay in his threat to attack Iranian power plants saw oil prices briefly pull back late Thursday, but they resumed rising Friday as fighting continued in the Middle East.

• The S&P 500 had its worst drop since the conflict with Iran began on the previous day.
• President Trump's latest delay in his threat to attack Iranian power plants occurred late Thursday.