U.S. stocks had their worst day since the war with Iran started, as doubt took over again from hope on Wall Street about a possible end to the conflict. The S&P 500 fell 1.7% Thursday. The index is headed for a fifth straight losing week, which would be the longest such losing streak in almost four years. The Dow Jones Industrial Average dropped 1%, and the Nasdaq composite sank 2.4%. They’re the latest flip-flops for financial markets this week after Iran rejected a U.S. offer for a ceasefire. Oil prices rose more than 4%, and Treasury yields climbed in the bond market.
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