Netanyahu forcing ordinary Americans to pay for war, Araghchi says as stocks slump

Iranian Foreign Minister Abbas Araghchi says American taxpayer dollars and lives are the costs of Israeli prime minister Banjamin Netanyahu’s “lost” gamble, amid almost four weeks of a US-Israeli unprovoked war of aggression against the Islamic Republic. 

In a post on his X account on Friday, the Iranian foreign minister said Netanyahu gambled with American taxpayer dollars and lives but he has “badly” lost the gamble.

Netanyahu “is now singlehandedly making sure that ordinary Americans, particularly retirees and those retiring in next few years, will pick up the tab,” he added.

Araghchi’s post came after Wall Street traders have reportedly driven stocks lower ahead of the weekend on concern that a protracted US-Israel war with Iran will keep oil prices elevated, fueling a simultaneous increase in inflation and a slowdown in growth.

The nearly 1% drop in the S&P 500 put the gauge on course for its longest streak of weekly losses since 2022.

The Nasdaq 100 fell into correction territory after a 10% decline from its peak. Brent hovered around $111. A drop in Treasuries stalled after yields hit the highest levels of the year.

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