Wall Street just had its roughest day since August. Here is what happened, in plain English.
The Dow fell 653 points, about 1.2 percent, to close at 52,215 on October 23.
U.S. crude jumped past $103 a barrel on fears of renewed U.S.-Iran conflict.
Costly oil pushes up petrol, shipping, and food prices for everyone.
Thursday's tech slump spread to banks, shops, and health stocks on Friday.
AmEx fell 3.7 percent after cutting 5 percent of staff to prepare for AI.
Energy was the only rising sector, up 2.6 percent on high oil prices.
The Dow still gained 0.4 percent for the week, its third weekly win in a row.
The VIX rose nearly 4 percent to 19.76 as investors braced for big swings.
The Federal Reserve meets October 28. Rates are expected to stay unchanged.
One bad day does not set the trend. The Dow still ended the week higher.
Get the full plain-English breakdown of the selloff on Rive News.
Get the full breakdown, key numbers, and what happens next.
Read on Rive News