Dow loses 790 points, records weekly drop

US stocks closed lower on Friday, posting weekly losses as selling pressure intensified, with both the Dow Jones and Nasdaq entering correction territory amid rising concerns over the Middle East conflict.

The Dow Jones Industrial Average fell 1.73%, or 793 points, to 45,166, down more than 10% from its all-time high and marking a 0.9% weekly loss.

The S&P 500 dropped 1.67%, or 108 points, to 6,368, bringing its weekly decline to 2.11%.

The Nasdaq Composite, which entered correction territory in the previous session, fell 2.15%, or 459 points, to 20,948, extending weekly losses to 3.23%.

In Europe, the Stoxx Europe 600 slipped 0.95% to 575, though it posted a 0.35% weekly gain. The UK’s FTSE 100 held steady at 9,967, while Germany’s DAX fell 1.38% to 22,300 and France’s CAC 40 declined 0.87% to 7,701.

In Japan, the Nikkei 225 edged down 0.45% to 53,373, while the broader Topix rose 0.20% to 3,649.

Brent crude futures for May delivery rose 4.22%, or $4.56, to $112.57 per barrel, up 0.34% for the week. US WTI crude climbed 5.46%, or $5.16, to $99.64 per barrel, posting weekly gains of 1.34% after briefly topping $100 earlier in the session.

Gold futures rose 2.65%, or $116.20, to $4,492.50 per ounce, but remained down 1.8% for the week.

What’s driving markets?

Investor sentiment remained fragile despite US President Donald Trump delaying plans to strike Iran’s energy infrastructure, as reports suggested the Pentagon is considering deploying additional troops to the Middle East and targeting Iranian nuclear sites in potential joint US-Israeli operations.