Stock markets in New York closed with significant losses on Friday, marking the fourth consecutive week of declines on Wall Street amid ongoing concern about the war in the Middle East.
Investors remain on edge as tensions escalate. Overnight, Iran carried out retaliatory strikes on Gulf states, while Israel launched further attacks on Iranian targets on Friday.
Sources told CBS News that the United States has made detailed preparations for deploying USAmerican ground troops in Iran, heightening fears of a broader conflict.
The Dow Jones Industrial Average ended the day 1% lower at 45,577.47 points. The broader S&P 500 index fell 1.5% to 6,506.48 points, while the tech-heavy Nasdaq dropped 2% to 21,647.61 points.
Losses worsened throughout the day, and oil prices surged again.
A barrel of US crude oil rose by 2.4% to $97.83, while Brent crude, the European benchmark, climbed 3.2% to $112.11 per barrel.
The vital Strait of Hormuz remains blocked.
