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Energy and utility stocks were among the only areas of the market to rise on Friday.
New York
CNN
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US stocks fell on Friday but pulled back from intraday lows on Wall Street concerns about escalating tensions in the Middle East and steady inflation.
The Dow Jones index fell 407 points, or 1.1%. The S&P 500 fell 1.3%, and the Nasdaq Composite lost 1.4%.
United States and Israel They are alert of possible attack by Iran or its agents Israeli raid on Damascus last week.
Oil prices rose on Friday amid fears of escalating regional tensions sparked by the war in Gaza. Brent crude futures, the international oil benchmark, rose to $90.75 a barrel, falling after touching their highest level since October. West Texas Intermediate crude futures, the US standard, rose to $86.10 per barrel.
The price of the most actively traded gold futures contract rose to nearly $2,394 per ounce. The yellow metal is considered an investment haven.
Concerns about geopolitical turmoil come as investors raise concerns that persistent inflation could prompt the Federal Reserve to cut interest rates later than expected after raising them to the highest level in 23 years. Even some Fed officials said so Raising interest rates is not off the tableAlthough it is unlikely, if the central bank's progress on inflation stalls.
CNN's Fear and Greed Indexwhich measures seven measures of market sentiment, was at a “neutral” reading, down from the “greed” reading at the previous close.
JPMorgan Chase CEO Jamie Dimon warned investors Friday, that although strong economic data is reassuring, geopolitical turmoil and persistent inflation are the main causes of concern. He also pointed to Russia's war with Ukraine as an ongoing concern.
“This could be critical about what happens to the global economy if oil and gas prices rise significantly,” Dimon told reporters after the bank’s first-quarter results were released on Friday morning.
Shares of JPMorgan Chase fell 5.4% on Friday.
Elsewhere, new data showed that Americans' attitudes toward the economy have softened over the past few months as stubborn inflation persists. the The latest consumer survey conducted by the University of Michigan It showed that sentiment remained largely flat in April, according to a preliminary reading released on Friday.
This story is evolving and will be updated.
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