Stock market today: Dow, S&P 500, Nasdaq retreat as oil swings amid Iran war jitters

Market Overview - US stocks experienced a pullback on Friday, with the Dow Jones Industrial Average and the S&P 500 declining approximately 0.3% and 0.4% respectively, while the Nasdaq Composite fell by 0.7% [1][2] Oil Market Dynamics - Oil prices remained high, with Brent futures trading near $108 per barrel and West Texas Intermediate futures around $95, influenced by ongoing tensions in the Middle East and Iran's military actions [3][4] - The volatility in oil prices is attributed to the fast-moving conflict in the region, with analysts indicating that existing damage will keep prices elevated [3] Geopolitical Factors - Investors are reacting to reports that the Trump administration is considering a potential occupation or blockade of Kharg Island, which is crucial for Iran's oil exports, as a means to pressure Tehran to reopen the Strait of Hormuz [2] - The major US stock indices are on track for a fourth consecutive weekly decline, with both the Dow and Nasdaq nearing correction territory [4]