Siegel Sees 10% Correction Risk as Iran War Drives Crude Prices Skyward

Jeremy Siegel, professor emeritus of finance at the University of Pennsylvania's Wharton School of Business, has warned that the ongoing Iran war and rising crude oil prices could lead to a correction in U.S. equities.

The economist explained that the core issue is not crude oil itself, but gasoline, which he said is the most visible price in the economy for consumers.

With WTI crude surging more than 40% since the start of the Iran war, Siegel expressed concern about the potential for higher crude oil prices and geopolitical uncertainty putting pressure on stocks.