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Kiplinger
Kiplinger
Business
David Dittman

Iran Hits Gulf Tanker, Dow Drops 784 Points: Stock Market Today

Stock Market Berkshire Greg Abel Iran Dhaval Joshi Warren Buffett TradingView the Persian Gulf United States Ciena
(Image credit: Getty Images)

Late dip-buying pulled technology and consumer discretionary into positive territory with energy, but all the other stock market sectors were down after crude oil prices surged to 52-week highs on reports Iran attacked a tanker in the Persian Gulf. Investors, traders and speculators will now look forward to Jobs Friday and what the employment situation says about interest rates amid persistent inflation anxiety.

The Cboe Volatility Index (VIX) spiked as high as 25.84 from 21.15 on Wednesday as a volatile week on Wall Street continues. A normal range for the stock market's "fear index" is between 12 and 20.

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