Wall Street in Red: S&P 500 Down for Third Week

Wall Street closed lower, with the S&P 500 recording its third consecutive week of losses, hitting a year's low. Market nervousness persists as the conflict in the Middle East keeps oil prices above $100, intensifying inflation concerns.

The S&P 500 posted weekly losses of 1.5%, while the Dow Jones lost approximately 1.9% and the Nasdaq 1.3%. Investors remain cautious due to escalating tensions in the Middle East and the impact on oil prices.

In stock news, Boeing recorded an increase, while Adobe fell after announcing the departure of its CEO. The energy sector continued to move upward, in contrast to the technology sector, which came under pressure.