The Dow Falls 550 Points. Stock Market Breadth Is Deteriorating.

Not much was working on Wall Street as oil prices once again touched $100 a barrel. The Nasdaq Composite was down 1.4%. Wall Street is worried oil price spikes related to the war in Iran could drag on long enough to wreak havoc on the economy, creating a stagflationary environment where the Federal Reserve is prevented by price growth from lowering interest rates.