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A huge 55% jump in oil prices (sparked by US and Israel's military moves against Iran) has erased seven months of gains from the S&P 500.
The energy sector was the only one still in the green, while most others struggled.

The ongoing crisis in the Middle East is making things even shakier: oil supplies are disrupted, inflation fears are up, and hopes for Fed rate cuts have faded.
With both stocks and bonds taking hits, analysts worry that higher energy costs could slow growth or even push parts of the economy toward recession.