Wall Street Has Its Worst Day Since The War With Iran Started And Crude Oil Prices Rise

U.S. stocks had their worst day since the war with Iran started, as doubt took over again from hope on Wall Street about a possible end to the conflict.

NEW YORK (AP) — U.S. stocks had their worst day since the war with Iran started, as doubt took over again from hope on Wall Street about a possible end to the conflict. The S&P 500 fell 1.7% Thursday. The index is headed for a fifth straight losing week, which would be the longest such losing streak in almost four years. The Dow Jones Industrial Average dropped 1%, and the Nasdaq composite sank 2.4%. They’re the latest flip-flops for financial markets this week after Iran rejected a U.S. offer for a ceasefire. Oil prices rose more than 4%, and Treasury yields climbed in the bond market.

THIS IS A BREAKING NEWS UPDATE. AP’s earlier story follows below.

NEW YORK (AP) — Doubt is taking over again from hope on Wall Street about a possible end to the war with Iran, and stocks are back to falling as oil prices rise Thursday.

The S&P 500 sank 1.4%, more than erasing its gain from the day before, and is back on track for a fifth straight losing week. That stretches back to before the war with Iran began, and it would be the longest such streak in nearly four years.

The Dow Jones Industrial Average was down 384 points, or 0.8%, with an hour remaining in trading, and the Nasdaq composite was 2% lower.