U.S. stocks closed out their worst week since the Iran war began and their fifth losing week in a row.
The S&P 500 fell 1.7% and is now 8.7% below the all-time high it reached in January. The Dow Jones Industrial Average dropped 1.7%, and the Nasdaq composite sank 2.1%.
Crude oil prices rose again with no clear end in sight for the conflict.
Investors fear that the war will disrupt the Persian Gulf’s energy industry for a long time, setting off a punishing wave of global inflation by keeping large amounts of oil and natural gas out of global markets.
On Friday:
The S&P 500 fell 108.31 points, or 1.7%, to 6,368.85.
The Dow Jones Industrial Average fell 793.47 points, or 1.7%, to 45,166.64.
The Nasdaq composite fell 459.72 points, or 2.1%, to 20,948.36.
The Russell 2000 index of smaller companies fell 43.63 points, or 1.7% to 2,449.70.
For the week:
The S&P 500 is down 137.63 points, or 2.1%.
The Dow is down 410.83 points, or 1.7%.
The Nasdaq is down 699.25 points, or 3.2%.
The Russell 2000 is up 11.24 points, or 0.5%.
For the year:
The S&P 500 is down 476.65 points, or 7%.
The Dow is down 2,896.65 points, or 6%.
The Nasdaq is down 2,293.63 points, or 9.9%.
The Russell 2000 is down 32.21 points, or 1.3%.
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