The Globe and Mail reports in its Saturday edition that U.S. stocks tumbled on Friday, with each of the three major U.S. indexes closing at their lowest levels in over seven months and the Dow confirming it was in correction territory as the month-long Middle East war continued to suppress risk appetite. A Reuters dispatch to The Globe says markets took little solace from President Donald Trump's announcement that he gave Iran another 10 days to reopen the Strait of Hormuz or face the destruction of its energy plants, after Iran rejected his proposals to end the war that began with U.S.-Israeli air strikes on Iran. Secretary of State Marco Rubio said the U.S. could achieve its objectives in Iran without the use of ground troops and expected its operation to conclude in a matter of weeks, despite recent deployments of additional forces to the region. U.S. crude settled up 5.46 per cent at $99.64 (U.S.) a barrel and Brent rose 4.22 per cent to settle at $112.57 (U.S.). The Dow is down more than 10 per cent from its Feb. 10 record close. The S&P/TSX composite, however, was shielded from much of the downward move Friday, thanks to the heavily weighted materials and energy sectors, ending up 73.13 points at 31,960.65.