Oil prices surge, stocks fall after US kills Iranian general


January 3, 2020

Stocks fell broadly on Wall Street and oil prices surged Friday after a U.S. strike killed a top Iranian general in Iraq, raising tensions in the Middle East.

The selling, which lost some momentum toward the end of the day, ended a five-week winning streak for the S&P 500 a day after the benchmark index hit its latest record high.

The price of U.S. crude oil climbed 3.1%. Investors sought safety in U.S. government bonds, sending their yields lower. The price of gold rose.

Technology, financial and health care stocks accounted for much of the selling. Companies that rely on consumer spending...

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