Business, Finance & Tech
Dow Falls Into Correction as Oil Prices Surge Amid Iran Conflict
U.S. markets took a sharp hit Friday, with the Dow Jones Industrial Average officially entering correction territory as rising oil prices and uncertainty surrounding the Iran conflict weighed heavily on investors.
The Dow dropped nearly 800 points, closing down 10% from its February peak. The S&P 500 and Nasdaq also declined significantly, with all three major indexes ending the day at their lowest levels since August.
The downturn marks five consecutive weeks of losses for both the Dow and S&P 500, the longest losing streak in nearly four years.
A key driver behind the selloff is surging oil prices. Brent crude climbed above $112 per barrel, while U.S. crude approached $100, both reaching their highest levels since the conflict began. Analysts say rising energy costs are fueling concerns about inflation and keeping interest rates elevated longer than expected.
Bond yields also rose, signaling investor caution and pulling money away from stocks. Meanwhile, the tech-heavy Nasdaq has been particularly vulnerable, falling more than 12% from its recent highs.
Market analysts say uncertainty over how long the conflict will continue—and its impact on global energy supply—is creating ongoing volatility.
Investors are now watching closely for diplomatic developments, as well as signals from the Federal Reserve on how it may respond to rising inflation pressures.
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By: CNN Newsource
March 27, 2026
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