Stocks Plummet, Oil Soars Amid Iran Conflict
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
U.S. stocks plummeted on Friday, marking their lowest closes in over six months, as the ongoing Middle East conflict with Iran and weakness in big tech names spooked investors. Oil prices surged, with U.S. crude settling at $99.64 a barrel and Brent at $112.57. The Dow entered correction territory, joining the Nasdaq and small-cap Russell index in their fifth straight weekly loss. Traders reacted with fear, pushing the VIX volatility gauge to its highest since early March. Experts see a negative mood but call it a potential buying chance, even if markets dip another fifteen to twenty percent. Inflation worries have dashed hopes for Federal Reserve rate cuts this year, with some now betting on a possible hike by October. As the war continues, markets brace for more uncertainty ahead.
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