Overview
- The Dow, Nasdaq and Russell 2000 fell into correction territory after another losing week for U.S. stocks, with a late-day slide following reports of potential U.S. troop deployments.
- Brent crude closed at $112.19 and WTI approached $100 as the war hit energy assets from Iraqi fields under force majeure to reported damage at Israel’s Haifa refinery and Qatar’s giant LNG facility.
- The 10-year Treasury yield climbed to about 4.38%–4.39% and the VIX jumped, reflecting a repricing toward higher-for-longer rates.
- Gold dropped about 2% on Friday and more than 10% for the week, its worst weekly performance since 1983.
- Risk-off extended to emerging markets, with Mexico’s IPC down 1.63% and the peso weaker, while mega-cap tech led U.S. declines and energy outperformed.