Stocks sink worldwide with no clear end in sight for Iran war

New York: Worries about the war with Iran sent oil prices back to USD 100 per barrel and stocks sinking worldwide.

The S&P 500 fell 1.5 per cent Thursday and returned to big swings following a couple days of relative calm. The Dow Jones Industrial Average dropped 1.6 per cent, and the Nasdaq composite sank 1.8 per cent.

The centre of action was again the oil market, where the price of a barrel of Brent crude got as high as USD 101.59. Treasury yields climbed in the bond market on worries about higher inflation and fewer cuts to interest rates by the Federal Reserve.

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