$200B erased from US markets amid escalating US-Iran tensions

U.S. markets experienced a significant downturn, wiping out $200 billion in just 20 minutes due to escalating U.S.-Iran tensions. The Dow Jones plummeted by 565 points, while the S&P and Nasdaq both declined by 0.7%. Rising oil prices, driven by President Trump's demand for Iran to reopen the Strait of Hormuz, exacerbated the situation.