Oil Prices surge, Stocks Slip After US Kills Iranian General
Stocks are lower on Wall Street in afternoon trading Friday and oil prices are climbing after U.S. forces in Iraq killed a top Iranian general.
Financial stocks are among the biggest decliners as investors buy up U.S. government bonds, sending their yields lower. Technology stocks, health care companies and airlines are among the decliners as the market pulls back from record highs. Several energy stocks are up.
Defense contractors are also notching gains. The S&P 500 was down 0.4% as of 12:11 p.m. Central time. The Dow lost 160 points, or 0.6%, to 28,708. The Nasdaq dropped 0.4% and the Russell 2000 index gave up 0.2%.