Stock market ends sharply lower
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Wholesale data showed milder inflationary pressures while Trump renewed his threat to impose "take it or leave it" tariffs on trading partners.
The Dow Jones Industrial Average (DJINDICES: ^DJI) index edged 3.9% higher in May, with 70% of its 30 constituent stocks ending the month in positive territory. However, the two worst-performing Dow stocks in May -- both from the healthcare sector -- kept the index's rally in check, with one of them plunging over 25%.
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Oil prices leapt, and stocks fell on worries that escalating violence following Israel's attack on Iranian nuclear and military targets could damage the flow of crude around the world, along with the global economy.
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The blue-chip Dow Jones Industrial Average was headed for its worst daily drop in almost a month on Friday as the Israel-Iran conflict rattles investors, after easing back from session lows. The Dow was down about 774 points,
The Dow Jones Industrial Average, often called the Dow Jones or just the Dow, is a stock market index that tracks 30 major publicly traded companies in the United States.
Markets rebounded after Trump said his administration intends to send letters to US trade partners to formally establish new tariff terms.
The market may be too distracted by all the recent noise to notice that these stocks are underperforming for all the wrong reasons.
The S&P 500 and Nasdaq composite index lost more than 1 percent. The Dow Jones Industrial Average decreased 1.8 percent, dragged down by three of its 30 stocks.