Stocks Slide Again as Oil Prices Rise; Dow Drops More Than 300 Points
U.S. equities fell again on Thursday while oil prices stayed elevated, as Wall Street watched for further developments in the Iran war and its impact on global energy supplies.
The Dow Jones Industrial Average dropped 371 points, or 0.8%. The S&P 500 and Nasdaq Composite slipped 0.7% and 0.8%, respectively. The S&P 500 traded below its 200-day moving average for the first time since May 23. The Russell 2000 also fell 0.3%, moving closer to correction territory as it is down 9.7% from its 52-week high. The Dow is next in line, now down just over 9% from its recent peak.
In energy markets, international benchmark Brent crude futures surged about 4% to $112 a barrel. WTI crude futures were up nearly 1% around $97 a barrel.
The jump in oil followed reports that Iran struck a key liquefied natural gas (LNG) export facility in Qatar, after Israel attacked Iran’s massive South Pars gas field. Iran then retaliated by hitting Qatari energy facilities, reinforcing fears of escalating supply disruptions.
Source : Newsmaker.id
