Dow Jones initially dropped 1,200 points on first day of stock market since Iran conflict [VA6RQtz5qtm]
A sell-off for stocks wrapped around the world and hit Wall Street Tuesday, though the losses eased significantly as the day progressed. Oil prices, meanwhile, leaped even higher on worries about the widening war with Iran. The S&P 500 dropped as much as 2.5% in the morning because of worries that the war may do more sustained damage to the economy than feared. But the index at the heart of many 401(k) accounts trimmed its loss and was down a more modest 0.9% in afternoon trading. The Dow Jones Industrial Average was down 377 points, or 0.8%, as of 2:30 p.m. Eastern time, and the Nasdaq composite was 1% lower. The Dow had been down more than 1,200 points in the morning. MORE: