President Donald Trump is used to bending financial markets to his will.
But with the war in Iran, he may have reached the limit of his ability to do so.
On Friday, the S&P 500 closed down 1.7% and notched its fifth-straight weekly decline, its worst stretch since 2022 and a sign of rapidly faltering confidence in a swift resolution to the Iran war.
Since the U.S. attacked Iran on Feb. 28, the S&P 500 has declined about 7%.
The Dow Jones Industrial Average fell 1.7% Friday and has lost nearly 4,000 points since the start of the war. It is now down more than 10% from its most recent high, a correction in technical terms.
The tech-heavy Nasdaq fell further into correction territory Friday, closing down 2% and off 13% since its record close in October.
Oil prices also rose sharply, with U.S. crude topping $100 a barrel and global Brent crude at approximately $114
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