Wall Street Drifts Amid Iran Tensions, Oil Price Dip
On Wall Street, stocks ended the week in a mixed state as oil prices dipped for the first time in seven days. The main indices all lost ground overall amid growing concerns about US-Iran tensions escalating further.
The S&P 500 barely budged, rising just 3.68 points to 7,411.98, its second consecutive week of losses since March. The Dow Jones Industrial Average rose 235.60 points to 51,947.25, while the Nasdaq fell 161.87 points to 24,975.82.
Heavy fighting in the Middle East has continued to threaten global oil and gas supplies. Brent crude prices dropped by 3.9% to $96.78 per barrel after previously rising above $100 on Thursday.
The US is also imposing new tariffs on dozens of nations, adding to pressure on companies' profits and potentially leading to higher inflation.