Market Jitters: Wall Street Woes Amid Middle East Tensions

Wall Street experienced a downturn on Wednesday, mirrored by a drop in the dollar as tensions escalated in the Middle East and details of the U.S.-China trade deal remained vague.

The U.S. is preparing for a partial evacuation of its Iraq embassy, driving security concerns. Meanwhile, oil prices surged over four percent, reaching a two-month high.

Despite hope from a fresh U.S-China trade truce, which suggested progress but lacked concrete terms, stocks showed mixed results as investors anticipated potential inflation spikes fueled by new tariffs.

(With inputs from agencies.)