Update: Dow Logs Worst Day in 4 Weeks Amid Renewed US-Iran Tensions
(Updates with market moves at the end of the day and latest developments.) The Dow Jones Industrial Average logged its sharpest single-day decline in four weeks in a mixed session on Wednesday, as oil prices rallied after President Donald Trump warned of additional attacks on Iran. The Dow fell 1.1% to 52,348.4, its biggest percentage fall since June 10. The S&P 500 declined 0.3% to 7,482.7, while the Nasdaq Composite edged up 0.2% to 25,870.7. Barring energy and technology, all sectors were in the red led by materials. West Texas Intermediate crude oil was up 5.1% at $74.01 per barrel in Wednesday late-afternoon trade, while Brent jumped 5.8% to $78.46. During a North Atlantic Treaty Organization summit in Turkey on Wednesday, Trump said the memorandum of understanding signed with Iran last month to end the war in the Middle East was "over." The US struck Iran on Tuesday after Tehran attacked three tankers that crossed the Strait of Hormuz. Iran's Islamic Revolutionary Guard Corps hit US military targets across Bahrain and Kuwait in retaliation to Washington's attacks, CNN reported. Trump warned of more attacks on Iran. "We hit them very hard last night," Trump said in.
(Updates with market moves at the end of the day and latest developments.) The Dow Jones Industrial Average logged its sharpest single-day decline in four weeks in a mixed session on Wednesday, as oil prices rallied after President Donald Trump warned of additional attacks on Iran.
The Dow fell 1.1% to 52,348.4, its biggest percentage fall since June 10.
The S&P 500 declined 0.3% to 7,482.7, while the Nasdaq Composite edged up 0.2% to 25,870.7.
Barring energy and technology, all sectors were in the red led by materials.
West Texas Intermediate crude oil was up 5.1% at $74.01 per barrel in Wednesday late-afternoon trade, while Brent jumped 5.8% to $78.46.
During a North Atlantic Treaty Organization summit in Turkey on Wednesday, Trump said the memorandum of understanding signed with Iran last month to end the war in the Middle East was "over." The US struck Iran on Tuesday after Tehran attacked three tankers that crossed the Strait of Hormuz.
Iran's Islamic Revolutionary Guard Corps hit US military targets across Bahrain and Kuwait in retaliation to Washington's attacks, CNN reported.
Trump warned of more attacks on Iran. "We hit them very hard last night," Trump said in.