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Bloomberg Quint

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Image Credit: Bloomberg Quint

S&P 500’s Weekly Gains In Jeopardy After Israel Attacks Iran

  • The S&P 500 Index was down 0.8% on Friday as traders assessed the impact of Israel's attack on Iran's capital amid escalating tensions over the nuclear program.
  • The Nasdaq 100 Index dropped 1.1% with tech stocks like Nvidia, Tesla, Meta Platforms, and Apple falling.
  • Energy companies rallied as crude prices surged, while airline and travel stocks declined after the attacks.
  • Investors sought safety in assets like gold and US Treasuries, causing volatility to rise in the market.
  • The jolt in turbulence disrupted a quiet period for US stocks, leading to concerns about persistent inflation pressures.
  • Some money managers believe the turbulence will be temporary as the Fed analyzes the situation.
  • Traders looked past positive consumer sentiment data to monitor other market developments.
  • US Steel Corp. dropped after reports of potential disruptions in Nippon Steel's takeover plans, while RH shares surged post-profit.
  • The article is eligible for web story generation.

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