Dow falls 350 points as oil jumps above $100 for first time since July

The Dow fell 350 points as oil prices climbed above $100 for the first time since July. Renewed hostilities between the US and Iran raised fears of prolonged energy supply disruptions, specifically concerning the Strait of Hormuz, which handles 20% of global oil. These geopolitical tensions and rising costs could strain global economies, negatively impacting market stability and potentially driving inflation, as the vital maritime route remains caught between the warring nations.