Stocks Plummet, Oil Soars Amid Iran Tensions

0:00U.S. stocks are sliding on Friday, capping off what could be Wall Street's 5th straight losing week, the longest streak in almost four years. The S&P 500 is down 0.7%, the Dow Jones industrial average has dropped 333 points or 0.7% as of 11.30 a.m., Eastern time and the NASDAQ composite is off 1.1%. Tensions from the war with Iran are driving the sell-off after Thursday's sharp decline. President Trump extended his deadline to target Iran's power plants until April 6, giving them time to let oil tankers pass freely through the straight of Hormuz. Oil prices dipped right after the announcement, hinting at possible calm, much like the brief optimism earlier in the week from reports of productive. U.S. Iran talks, but prices quickly rebounded as fighting dragged on with no letter from Iran and threats of more strikes from Israel. Tensions are rattled by mixed signals between diplomacy and conflict, eroding confidence in

1:00the markets. Brent Crude is of 1.8% at $103.75 per barrel, while U.S. Crude rose 3.1% to $97.42 above pre-war levels. Fires are growing that prolonged disruptions in the Persian Gulf could spike global inflation, hitting gas prices, shipping costs, and even. Electricity bills hard. Upper sentiment took another hit in March, falling more than expected and weighing on spending that fuels the economy. Big tech like Nvidia and Amazon led declines, along with discretionary stocks such as Norwegian Cruise Line, Airbnb, and Lulu Lemon. Netflix but the trend with a small gain after hiking U.S. prices. Overseas markets in Europe dropped after mixed Asian trading, and 10-year treasury yields hovered around 4.41% up from before. The war and pushing borrowing costs higher. As oil climbs and battles continue, markets brace for more volatility, with strategist

2:02warning prices could hit $200 a barrel buy, summers end if the conflict persists. That's your update from Canada News Today, powered by AI.