The US stock market recorded a decline earlier this week as investors worried about the impact of the geopolitical conflict in the West Asia which entered its second week.
The escalating tensions in the Middle East have led to uncertainty over the world economy after oil prices surged above $100 per barrel.
Meanwhile, several Middle Eastern countries including Kuwait, Iran and the United Arab Emirates (UAE) have reduced crude oil production as existing oil storage capacity is starting to run out.
This situation occurred due to restrictions on oil tankers in the Strait of Hormuz.
At the same time, US stocks were under pressure last week after the NFP employment data for February was projected to be weaker than expected, thus risking increasing inflation rates.
In terms of the performance of the main indices, the Dow Jones fell 0.95% to 47,501.55 points, the S&P 500 fell 1.33% to 6,740.02 points and the Nasdaq Composite fell 1.59% to 22,387.68 points.
