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US equity indices sank further in Friday afternoon trading as escalating tensions in the Middle East and surging energy prices deepened a broad-based market sell-off. The Dow Jones Industrial Average dropped about 1.4%, leaving it more than 10% below its recent peak, while the Nasdaq extended its correction with a 1.6% decline and the S&P 500 fell 1.4%.
Technology heavyweights remained under pronounced pressure: Nvidia slipped 1.9% and Microsoft lost 2%, while Alphabet and Meta posted even steeper declines of more than 4% amid deteriorating risk appetite. Financial and credit-sensitive names also weakened, with JPMorgan down 2.8% and Visa off 3.1%. In contrast, energy majors outperformed, with Exxon Mobil gaining nearly 3% as WTI crude futures climbed above $99 per barrel.
Although President Trump extended the deadline for potential strikes on Iranian infrastructure to April 6, the ongoing closure of the Strait of Hormuz continues to stoke global stagflation concerns and reinforce expectations of a fifth consecutive weekly loss for US stocks.
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