Record Stock Rally Slips on Iran Clash, Oil Gains: Markets Wrap

Stocks pulled back on the final trading day of the week and crude oil rose as escalating Middle East tensions revived concerns over energy supplies, testing the durability of a record-breaking rally.

The MSCI All Country World Index slipped 0.2% as clashes between the US and Iran heightened tensions in the Middle East, fueling speculation that higher energy costs would weigh on economic growth. Asian shares fell 0.9%, pulling back from a record close after Wall Street benchmarks also retreated from their peaks.