Dow plunges 900 points, oil prices continue to rise
NEW YORK, New York (KVIA) - Oil prices rose as traders react to a possible prolonged blockade at the Strait of Hormuz, according to the latest economic reports.
The Strait of Hormuz is the major trading route for about one-fifth of the world's oil supply.
Experts say the turmoil in the market is a response to the U.S.-Israeli attack on Iran this past weekend.
The Dow Jones Industrial Average dropped 908 points, almost 2% as the S&P fell 1% and the Nasdaq dropped 0.9% as the war with Iran escalated and the oil prices rose. U.S. crude oil prices hit $79, the highest level since June 2025.
