Dow drops 400 after trimming an early plunge of 1,200 as oil prices climb even higher
Newsy
A sell-off for stocks wrapped around the world and hit Wall Street Tuesday, while oil prices climbed even higher on worries about the widening war with Iran.
A sell-off for stocks wrapped around the world and hit Wall Street Tuesday, while oil prices climbed even higher on worries about 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%.
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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.
