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Story summary
- U.S. stock markets fell Friday as oil prices surged amid Middle East tension.
- The Dow Jones dropped 702 points, a 1.3% decline, by 10:40 a.m. ET.
- Brent crude rose 2.7% to $116.24 a barrel, the highest level since early May.
- President Donald Trump accused Iran of fabricating attacks to raise oil prices before the midterm election.