HONG KONG – Wall Street is stumbling to close out its latest losing week.
U.S. stocks fell after oil prices briefly surged overnight on worries about fighting in the Middle East.
The S&P 500 was 0.7% lower in afternoon trading and on track for its third straight losing week. That would be its longest such streak since September, before it broke out into a record-setting romp.
The Dow Jones Industrial Average was up 125 points, or 0.3%, as of 12:46 p.m. Eastern time, and the Nasdaq composite was down 1.6%.
In the oil market, a barrel of Brent crude was back to $87.20, up 0.1%, after briefly leaping above $90 overnight. Iranian troops fired air defenses at a major air base and a nuclear site during an apparent Israeli drone attack, raising worries in the market. But crude prices pared their big gains as traders questioned how Iran would respond.
On Wall Street, Netflix sank 8.9% …