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Commodities

Dow Plummets Over 1,100 Points Amid Middle East Conflict and Oil Price Spike

Guavy AI Editorial Team
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Oil
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The Dow Jones Industrial Average plummeted 1,153 points on July 29, 2026, due to escalating Middle East tensions and surging oil prices. This marked the first time the index fell by over 1,000 points since April 2025.

The Iran Revolutionary Guard's attack on a US military base in Jordan with ballistic missiles triggered President Trump's warning of severe retaliation, fueling investor anxiety. The US president stated that the country would 'hit Iran very hard.'

The energy market was directly affected by the geopolitical tension, with West Texas Intermediate (WTI) crude oil futures surging 6.56% to $84.46 per barrel.

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