Markets on Wall Street retreated and oil prices jumped another five per cent again early Thursday as the war in Iran approached its second week with no indication that the United States and Israel were ready to scale back their attacks.
Futures for the S&P 500 lost 0.5 per cent before the opening bell, while futures for the Dow Jones Industrial Average were 0.6 per cent lower. Nasdaq futures were also down 0.5 per cent. On Wednesday, the Dow declined 0.6 per cent to its lowest level the year.
Oil prices initially shot more than nine per cent higher as supply concerns worsened with Iranian attacks on commercial shipping around the Strait of Hormuz. The U.S. campaign of airstrikes in Iran is now in its 13th day.
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