The fallout from the killing of Iran’s top military leader — General Qasem Soleimani, the head of the Iranian Revolutionary Guard Corps-Quds Force, a U.S.-designated Foreign Terrorist Organization — has reached Wall Street, resulting in stocks falling more than 200 points and oil prices surging. As reported by CNBC, the Dow Jones Industrial Average “plunged 212 points, or 0.8%,” Friday morning, while S&P 500 and the Nasdaq Composite likewise shrunk by 0.8%. “Stocks fell sharply on Friday after the U.S. confirmed that an airstrike killed Iran’s top military commander, sending oil prices surging and hiking geopolitical concerns,” CNBC reports, citing expert predictions of a “volatile” market over the next week. The most significant development is a surge in U.S. crude oil futures, which “shot up around 3.5% to $63.31 per barrel, raising concerns about an energy shock on the global economy,” according to CNBC. The climbing oil prices have impacted airline stocks, which “fell broadly on the threat of higher oil prices,” with United, American and Delta’s stocks all dropping more than 2%, the network notes. The stock market shakeup comes amid reports of a strategic airstrike by a U.S. MQ-9 Reaper drone, which fired missiles onto a convoy leaving Baghdad International Airport early Friday…. Read full this story
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