Stocks fall and oil rises as Wall Street swings back to doubt about a possible end to the Iran war [Globe and Mail, The (Toronto, Canada)]
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Source: Globe and Mail, The
The S&P 500 fell 0.8% and more than erased its gain from the day before . The Dow Jones Industrial Average was down 256 points, or 0.6%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 1.1% lower. Stock markets fell even more in much of Asia and Europe. They're the latest flip flops in an exhausting week that began with President Donald Trump's announcement of productive talks about ending the war, which only led to Iran's public dismissal. Iran issued its own plan for a ceasefire, which includes reparations for the war. On Thursday, fighting continued, and Iran and the United States appeared at an impasse. Thousands more U.S. troops neared the region, while Tehran tightened its grip on the crucial Strait of Hormuz The narrow waterway typically sees a fifth of the world's oil sail through it to exit the Persian Gulf and reach customers worldwide. The secretary-general of a bloc of Gulf Arab countries said Iran is charging fees for ships to safely transit the strait.
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