S&P 500 Falls 1 Percent After U.S. Strikes on Iran, Oil Rises 4.6 Percent

The S&P 500 fell 1 percent to 7,457.69 on the trading day, marking its first losing week in three weeks. The index had traded within 0.5 percent of its all-time high just days earlier. The Dow Jones Industrial Average declined 406.55 points, or 0.8 percent, to 52,146.42.

The Nasdaq composite dropped 361.70 points, or 1.4 percent, to 25,520.24. Brent crude oil rose 4.6 percent to settle at $88.10 per barrel, up from roughly $76 a week earlier. The United States expanded its airstrike campaign against Iran early Friday, striking additional bridges and collapsing a tower at a key port.

Iran fired missiles toward Jordan on Sunday. Nvidia shares fell 2.2 percent. Applied Materials declined 5.6 percent. Netflix dropped 7.3 percent after its latest quarterly revenue missed analyst forecasts.

Intuitive Surgical shares sank 14.1 percent. SpaceX shares fell 5.4 percent to their lowest level since beginning Nasdaq trading a month earlier. Taiwan Semiconductor Manufacturing Co. shares declined 7.3 percent.

Stock indexes fell 6.5 percent in Taipei, 4 percent in Tokyo and 3 percent in Shanghai. Seoul’s Kospi index recorded swings of 6.2 percent, 6.4 percent and 8.9 percent during the week. The 10-year Treasury yield eased to 4.55 percent from 4.57 percent.

The Australian dollar traded at US69.71 cents.