Wall Street Reels as Iran War Shatters Its Portfolio Defenses
Bloomberg.com • • business
Key Points:
- Market declines triggered by the Iran war have escalated into a widespread sell-off across Wall Street, reflecting growing investor anxiety.
- Attempts to negotiate an end to the conflict and resume Middle East oil exports have instead intensified tensions, deepening market fears.
- The Nasdaq 100 dropped 1.9% on Friday, entering correction territory, while the S&P 500 experienced its longest losing streak since 2022 with a fifth consecutive weekly decline.
- Bond prices fell, driving the benchmark 30-year Treasury yield close to 5%, and Bitcoin's value has plummeted to roughly half of its pre-war peak.
