Highlights
Major stock indexes dropped Thursday as investors were spooked by the widening US-Iran war which spurred surging oil prices and bond yields. The Dow Jones industrial average lost 1.0 percent while the S&P 500 lost 1.2 percent and the Nasdaq was down 2.2 percent. Bond yields and oil prices rose while dollar declined.
A big selloff in Alphabet and Tesla on disappointing quarterly results, and wider weakness in megacaps amid worry over heavy capex spending added to the negatives in a big risk-off move. Energy, health care, and industrials held up relatively well. Hardest hit were tech, communications services, consumer discretionary, and financials.
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