Stocks Fall, Oil Rises on Fears War Is Escalating: Markets Wrap

Wall Street traders drove stocks to their longest weekly slide since 2022 on concern that a protracted war in Iran will keep oil prices elevated, fueling an increase in inflation and a slowdown in growth.

Equity losses accelerated into the close, with the S&P 500 dropping 1.7%. The Nasdaq 100 fell into a correction, sliding over 10% from its peak. Brent topped $112. Short-dated Treasuries outperformed longer maturities. The yen weakened to 160 for the first time since 2024, raising intervention risks.