Wall Street Journal: “Wall Street is trading like the worst pain from the war with Iran is yet to come.”
“For weeks, while missiles and drones flew around one of the world’s key energy producing regions, investors’ hopes for a quick resolution buffered stocks from steep declines. A selloff in bonds stayed in line with past conflicts. A run-up in crude futures appeared to lag far behind the scope of a disruption that could be the most severe oil shock in history.”
“But an intensifying rout in recent days pulled the S&P 500 down for a fifth straight week to its lowest levels since August and dragged the Dow Jones Industrial Average and Nasdaq composite into correction—off more than 10% from their recent highs.”
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