Dow drops 400 after trimming an early plunge of 1,200 as oil prices climb even higher [Globe and Mail, The (Toronto, Canada)]
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Source: Globe and Mail, The
the widening war with Iran . But the big moves that rocked markets in the morning eased substantially as the day progressed. By the end of trading, the S&P 500 had sunk 0.9%. That would be a solid loss on a typical day, but the index had been down as much as 2.5% in the morning because of worries that the war may do more sustained damage to the economy than feared. The Dow Jones Industrial Average dropped 403 points, or 0.8%, after plunging more than 1,200 points earlier in the morning. The Nasdaq composite pared its loss to 1%. It was just a day earlier that U.S. stocks opened the morning with a sharp loss, only to recover all of it and end the day with a tiny gain. Helping to drive that rebound was a record showing that past wars and conflicts in the Middle East have not usually meant long-term pain for U.S. stocks. But that was with the caveat that oil prices did not jump too high, like above $100 per barrel. On Tuesday, oil prices rose again and raised more alarms. The pri
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