Stocks Tumble in Biggest Weekly Decline Since 2016: Markets Wrap
- Dow Jones Industrials lost more than 1,400 points in the week
- Crude oil registers largest five-day increase since July
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U.S. stocks tumbled, sending the S&P 500 Index to its biggest weekly loss in more than two years, on concern that a trade war and higher borrowing rates could throttle global growth. Oil surged on speculation sanctions on Iran will be re-imposed.
The Dow Jones Industrial Average slumped to the lowest since November, led by losses Friday in companies as diverse as 3M Co. to Goldman Sachs Group Inc. The S&P 500 dropped to its least since the volatility-fueled meltdown in early February. Gold rallied and Treasury yields declined as investors sought safe havens.