Stocks resumed their decline Thursday after a one-day respite as concerns over the Iran war flared up again with U.S. crude topping $80 per barrel.

The Dow Jones Industrial Average declined 784.67 points, or 1.61%, to 47,954.74. The

S&P 500 fell 0.56% to 6,830.71, while the Nasdaq Composite dipped 0.26% to 22,748.99. The stock sell-off was led by Boeing, Caterpillar

and other names that stand to lose the most if the global economy slows.

Oil prices jumped, with West Texas Intermediate crude futures surpassing $80 per barrel in the afternoon to hit its highest level since July 2024, after Iran said it hit an oil tanker with a missile. It settled up more than 8% at $81.01 a barrel. International benchmark

Brent crude futures settled nearly 5% higher at $85.41 per barrel.

SPI down 125 - Commodities under pressure.

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