NEW YORK — Wall Street stocks slid Friday as escalating tensions in the Iran conflict, including a fresh Iranian strike on a U.S. base in Saudi Arabia and persistent restrictions on the Strait of Hormuz, heightened investor concerns over energy supplies and broader economic risks.
The Dow Jones Industrial Average fell 793 points, or 1.73 percent, to close at 45,166.64. The S&P 500 declined 1.67 percent, and the Nasdaq composite dropped 1.93 percent. The losses extended recent volatility tied to Middle East developments, pushing major indexes deeper into correction territory.
Oil prices remained elevated amid the disruptions. Brent crude traded above $106 a barrel, while U.S. West Texas Intermediate crude hovered near $94 a barrel. Iran has continued its restrictions on commercial shipping through the Strait of Hormuz since early March, sharply reducing traffic in the waterway that normally carries about one-fifth of global oil trade. Only limited approved transits have been reported, with some vessels rerouted through narrow passages controlled by Iranian forces.
The latest escalation followed an Iranian missile and drone attack on Prince Sultan Air Base in Saudi Arabia on Friday that wounded at least 10 U.S. service members. The base hosts U.S. troops and air assets supporting regional operations. Earlier in the week, Israeli forces conducted airstrikes on targets in Tehran and other parts of Iran.
President Donald Trump extended a deadline for Iran to reopen the strait to April 6, citing backchannel discussions. Limited progress in talks and continued Iranian missile activity have sustained uncertainty. U.S. troop levels in the region have increased, with additional deployments of Marines and Army units in recent weeks.
Energy and defense stocks showed mixed performance, while technology and consumer discretionary shares led the declines. The broader market has faced repeated swings since U.S. and Israeli strikes on Iran began in late February.
As of Saturday morning, stock futures indicated ongoing caution. Maritime traffic in the Strait of Hormuz stayed heavily restricted, and officials continued to monitor Iranian activity and diplomatic contacts aimed at resolving the conflict. Energy markets reflected sustained pressure from the disruptions.
