The Middle East war has added geopolitical risk to interest-rate and inflation fears, leading to stock declines.

The Dow Jones Industrial Average fell by 0.2%, while the Nasdaq Composite and S&P 500 dipped 0.5%.

The war has spooked markets due to fears of another confrontation between Russia and Ukraine.

Oil prices rose by 5% due to fears of regional crude producers joining the conflict. The September jobs report bolsters the case for stricter policy, while interest rates reached 16-year highs.