[Breaking] Surge in Oil Prices Fuels Inflation Concerns... All Three Major New York Indices Close Lower

On March 3 (local time), all three major indexes on the New York Stock Exchange closed lower as inflationary pressure mounted due to a sharp rise in international oil prices following airstrikes on Iran by the United States and Israel.

On this day, the Dow Jones Industrial Average ended trading down 403.51 points, or 0.83%, from the previous session. The S&P 500 Index, which is weighted toward large-cap stocks, fell 64.99 points, or 0.94%, while the tech-heavy Nasdaq Index dropped 232.16 points, or 1.02%, compared to the previous session.

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