Wall Street Stocks Waver Amid Escalating Iran Tensions
Stocks on Wall Street experienced a mixed finish on Friday as oil prices dipped for the first time in a week. The S&P 500 barely budged, rising just 3.68 points to 7,411.98.
The Dow Jones Industrial Average increased by 235.60 points to 51,947.25, while the Nasdaq fell 161.87 points to 24,975.82 due in part to sharp losses from Micron Technology and Broadcom.
Investors are grappling with escalating tensions between the US and Iran, which has led to increased pressure on oil prices and worries about inflation. The war has weakened buffers in the energy market, including strategic reserves in the US.
The Strait of Hormuz remains closed, threatening to slow global oil flow and gas supply. Brent crude fell 3.9% to $96.78, after rising above $100 on Thursday.