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Dow suffers worst week in nearly a year as oil spikes 12% and weak jobs data adds to anxiety

News Snapshot:

Wall Street's three main indexes closed down on Friday amid a sudden setback in the U.S. labor market and a 12% spike in U.S. oil prices due to the escalating conflict in the Middle East. A disappointing payrolls report intensified worries that the U.S. economy could be cooling just as geopolitical tensions in the Middle East push ?energy costs sharply ?higher. That ?mix threatens to box in the Federal Reserve, complicating its path to rate cuts and reviving concerns about renewed inflation pressure."The conflict now looks likely to last far longer than many had hoped, and oil prices are escalating…

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