"The S&P 500 sank 0.8 per cent in early trading on Friday, deepening its losses after falling the day before to its worst drop since the war with Iran began."
"The Nasdaq fell 10 per cent below its all-time high earlier this year, putting it officially in correction territory."
"Cornell economic historian Nicholas Mulder says it's 'reasonable to assume' prices will keep climbing by a few dollars a day as long as the war continues, potentially topping $120 US by month's end."
"Despite Trump's second announcement of delay this week, fighting continued in the Middle East. Iran gave no signs of backing down, while Israel threatened to 'escalate' the conflict."
U.S. stocks are falling, with the S&P 500 down 0.8% and the Dow Jones Industrial Average down 402 points. This decline follows Wall Street's worst drop since the onset of the new Middle East war. The Nasdaq has entered correction territory, falling 10% below its all-time high. Market fluctuations have been influenced by hopes regarding the war's resolution. President Trump extended a deadline related to Iran, but oil prices continue to rise due to ongoing tensions and blockades in the Strait of Hormuz.
Read at www.cbc.ca
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