Dow Slides More Than 450 Points as Oil Jumps and Iran-Talk Doubts Weigh on Markets
U.S. stocks fell on Thursday, pressured by a renewed surge in oil prices as traders tracked the latest developments in the Middle East and growing uncertainty around potential negotiations with Iran.
The S&P 500 dropped 1.74%, while the Nasdaq Composite slid 2.38%. The Dow Jones Industrial Average fell about 470 points, or 1.01%.
Crude prices climbed sharply, adding pressure to equities. Brent futures jumped about 5% to above $108 per barrel, while WTI futures rose roughly 5% to above $94 per barrel. The move in energy rekindled inflation concerns and weighed on risk appetite across markets
As stocks took another leg lower and oil gained, U.S. Treasury yields also spiked. Both the 10-year and 2-year Treasury yields rose notably on Thursday, reflecting a more cautious market stance amid the inflation shock risk from higher energy prices.
Commenting on the latest jump in oil, President Donald Trump said the surge and broader market pressure were not as severe as he had expected. “It’s all going to come back down to where it was and probably lower,” he said, referring to oil prices.
Source : Newsmaker.id
