Oil Prices Fall on Wall Street Amid US-Iran Conflict
Stocks on Wall Street experienced a mixed finish on Friday as oil prices dipped for the first time in a week. The major indexes lost ground overall for the week due to increasing pressure from the U.S.-Iran conflict and fresh tariffs imposed by the Trump administration.
The S&P 500 barely budged, rising only 3.68 points or less than 0.1% to 7,411.98. This marks its second consecutive losing week, a situation not seen since March.
The Dow Jones Industrial Average rose 235.60 points or 0.5% to 51,947.25. In contrast, the Nasdaq fell 161.87 points or 0.6% to 24,975.82, weighed down by sharp losses from big tech stocks like Micron Technology and Broadcom.
The price of Brent crude, the international standard, dropped 3.9% to $96.78 after rising for four days in a row. This is the first time oil prices have fallen this week.