S&P 500's Weekly Gains in Jeopardy After Israel Attacks Iran
The US stock market was on track to finish flat for the week as oil prices surged and traders sought safety in bonds after Israel attacked Iran's capital following an escalation of tensions over the country's rapidly advancing nuclear program.
The S&P 500 Index was down just 0.6% on Friday, coming off session lows premarket as traders weighed the potential impact on financial markets. The Nasdaq 100 Index dropped 0.8% as high-flying technology shares lost momentum. A basket tracking the Magnificent Seven stocks including Alphabet Inc. and Amazon.com Inc. fell 0.6%. Meantime, Nvidia Corp., Tesla Inc. and Meta Platforms Inc. all fell. Apple Inc., known for its strong cash flows, ticked up 0.2%.
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