US stocks drop as oil jumps after Masoud Pezeshkian hint
Business
US stocks took a noticeable hit on Thursday morning after oil prices jumped, thanks to rising tensions between the US and Iran.
The Dow fell 1%, while the S&P 500 and Nasdaq slid nearly 1% and 1.3%.
This all came just after Iranian President Masoud Pezeshkian hinted at a possible ceasefire, which had briefly given investors hope.
Trump hints military action, Iran threatens
Market nerves got worse when President Trump said the US was "very close" to its goals but suggested more military action could be coming.
Iran fired back with threats of "crushing" attacks on both the US and Israel.
Experts warn this could tighten Iran's hold on key oil routes and even upend global economic activity if things escalate further, leaving investors worried about where things go from here.