Dow falls into correction as Iran war shakes Wall Street

Stocks closed the week with sharp losses Friday as Wall Street sought refuge from the financial blowback of the war in Iran.

The Dow Jones Industrial Average closed with a loss of nearly 800 points Friday, falling 1.7 percent on the day. The index closed at 45,166.64 points, down more than 10 percent from its most recent high, which is the threshold for a stock market correction.

The S&P 500 also fell 1.7 percent on the day, and the Nasdaq composite closed with a loss of 2.1 percent Friday. The tech-heavy Nasdaq had already fallen into a correction by Thursday’s closing bell.

Friday’s losses marked the end of another difficult week for the stock market, which has buckled under economic concerns driven by the war in Iran.

Despite President Trump’s repeated insistence that the joint U.S.-Israeli operation in Iran has largely achieved its goals, the war is about to enter........

© The Hill