Dow Jones Industrial Average enters correction territory after five weeks of losses [CBS News]
NerdWallet, Inc. (NRDS)
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Source: CBS News
to a long-term disruption of Persian Gulf energy supplies and fuel a new wave of global inflation. The Dow Jones tumbled 793 points, or 1.7%, to 45,167 on Friday. The index has shed 10% of its value since reaching a high of over 50,000 points in February, crossing the threshold for entering a market correction. Other indices also tumbled on Friday, with the S&P 500 slumping 108 points, or 1.7%, to 6,369 and the tech-heavy Nasdaq declining 2.2%. The S&P 500 has dropped back to its level in August and is now 8.7% below the all-time high it reached in January. Investors are unsettled by surging crude oil prices and conflicting messages from U.S. and Iranian leaders. President Trump says he extended his deadline for Iran to reopen the Strait of Hormuz because negotiations to end the war are "going very well," while Iran has denied any direct talks and continues its blockade of the vital waterway in the Persian Gulf. "Each time the conflict intensifies, oil spikes, stocks fall, a
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- NRDS's page on the SEC website