Skip to main content

Dow tumbles more than 360 points on fears of potential attack by Iran and inflation woes

·1 min

US stocks dropped on Friday morning due to concerns about escalating tension in the Middle East and inflation. The Dow fell 361 points, while the S&P 500 and Nasdaq Composite declined by 1% and 1.3% respectively. The US and Israel are on alert for a potential attack following an Israeli strike in Damascus last week. Oil prices also rose, with Brent crude futures reaching their highest level since October. Energy and utility stocks were the only sectors that saw gains. Gold prices also increased as investors sought haven investments.