The Dow fell by 400 points and the S&P 500 fell by 0.4%, due to concerns about the Iran war. Oil prices briefly spiked to their highest level since 2022 due to fears that production could be blocked for a long time, leading to concerns of debilitating inflation for the global economy. The International Energy Agency announced that its members would release a record amount of oil from stockpiles set aside for emergencies. However, it is likely that only a full resumption of the flow of oil and natural gas from the Persian Gulf area will fully alleviate the market. The price for a barrel of Brent crude rose 4.4% to $91.68.