News Summary

• The S&P 500 slumped 1.7% for its worst day since January and is back on track for a fifth straight losing week.
• The Dow Jones Industrial Average dropped 469 points, or 1%, and the Nasdaq composite sank 2.4% to fall more than 10% below its all-time high.
• The price for a barrel of Brent crude oil climbed 4.8% to settle at $101.89 as hopes dimmed for a potential return to normal for the strait.