Wall Street was rocked by another wave of selling Friday as a dramatic surge in global oil prices rattled investors, sent major stocks tumbling, and raised fresh questions about the strength of the American economy.
With crude oil approaching $116 per barrel, the financial consequences of the ongoing U.S. conflict with Iran are becoming increasingly difficult to ignore.
The latest market turbulence comes at a particularly sensitive moment for President Donald Trump’s administration, with inflation remaining stubbornly elevated and the Federal Reserve facing mounting pressure over its next interest rate decision.
