US Stocks Slip Amid Iran Conflict Tensions

Stocks in the United States and Europe fell on Friday as investors tracked delicate negotiations between Washington and Tehran. Oil prices, however, rose by more than one dollar per barrel.

The Iran conflict has left oil and natural gas poised for notable weekly advances. Washington threatened to escalate economic measures against Tehran, including broadening a naval blockade.

A Friday survey indicated that American consumer confidence weakened in early August amid higher living expenses stemming from the Middle East hostilities.

The greenback declined following an unexpected contraction in U.S. retail sales, which buoyed bullion prices and further dampened prospects for a Fed rate move at the forthcoming policy session.