Stocks fall as tensions with Syria escalate

Published on NewsOK Modified: August 27, 2013 at 10:53 am •  Published: August 27, 2013

NEW YORK (AP) — Worries about a potential military strike against Syria are dragging down the stock market and sending oil and gold prices higher.

Tension is rising between Syria and the West. U.S. Defense Secretary Chuck Hagel said Tuesday that U.S. forces are ready to strike if President Barack Obama gives the order.

The Dow Jones industrial average was down 91 points, or 0.6 percent, at 14,854 as of noon EDT Tuesday.

The Standard & Poor's 500 index fell 16 points, or 1 percent, to 1,640. The Nasdaq composite fell 45 points, or 1.3 percent, to 3,611.

Airline stocks plunged as traders worries about higher fuel costs.

The price of crude oil jumped 2.88, or 2.7 percent, to $108.79 a barrel, close to its highest level this year.