U.S. stocks are sinking Friday as hopes wither on Wall Street for a possible cut to interest rates by the Federal Reserve this year because of the war with Iran.

The S&P 500 fell 0.9 per cent and was on track for a fourth straight losing week, its longest such streak in a year. The Dow Jones Industrial Average was down 285 points, or 0.6 per cent, as of 10:30 a.m. Eastern time, and the Nasdaq composite was 1.2 per cent lower.

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