"The S&P 500 slumped 1.7 per cent for its worst day since January and is back on track for a fifth-straight losing week, the longest such losing streak in nearly four years."
"The price for a barrel of Brent crude oil climbed 4.8 per cent to settle at $101.89 US, as hopes dimmed for a potential return to normal for the strait."
"Iran, meanwhile, tightened its grip on the crucial Strait of Hormuz, creating something like a 'toll booth' for tankers to get past the narrow waterway."
"They better get serious soon, before it is too late, because once that happens, there is NO TURNING BACK, and it won't be pretty!"
On Thursday, stocks experienced a sharp decline, with the S&P 500 dropping 1.7%, marking its worst day since January. The Dow Jones fell 469 points, and the Nasdaq composite decreased by 2.4%. This downturn followed initial optimism regarding U.S.-Iran negotiations, which were dismissed by Iran. Oil prices surged, with Brent crude rising 4.8% to $101.89 per barrel. Tensions escalated as U.S. troops approached the region, and Iran tightened control over the Strait of Hormuz, impacting global oil supply.
Read at www.cbc.ca
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