The Dow Jones Industrial Average fell 1.7% on Friday, confirming a 10% drop from its February record. Investors worry the U.S. and Israel's war against Iran could cripple the global economy. Since the conflict began on February 28, the Dow has lost over 7%.
The sharp rise in oil prices has heightened inflation fears, prompting expectations of Fed rate hikes by year-end. Meanwhile, the tech-heavy Nasdaq and S&P 500 also confirm corrections. The broader market sell-off reflects deteriorating investor sentiment.
Goldman Sachs, down 2.4%, was the biggest drag on the Dow.