Oil Prices Keep Rising and Weigh on Wall Street
Oil climbed to mult-week highs as Middle East fighting intensified, while U.S. stock futures weakened ahead of inflation data and a Federal Reserve meeting.
- Early Tuesday, The Dow Jones Industrial Average lost 543 points, or 1%, as flare-ups in the Middle East conflict pushed oil prices higher, with Benchmark crude surging 2.5% to $93.79 a barrel.
- Renewed fighting between an important ally and Iranian-backed rebels in Yemen escalated after a wave of Houthi attacks on oil facilities in Saudi Arabia, fueling market anxiety.
- In Asia, Tokyo's Nikkei sank 1.7% as major exporters struggled with a surging Japanese yen, while South Korea's Kospi lost 0.6% and Hong Kong's Hang Seng fell 0.4% during trading.
- Ahead of The Federal Reserve's meeting next week, the government will release the Producer Price Index on Thursday, followed by the more closely watched Consumer Price Index on Friday.
- Analyst Norihiro Yamaguchi of Oxford Economics warned supply-side inflation will accelerate as firms pass on costs, deteriorating consumers' "purchasing power," even as the economy grew 1.4% annually in April-June, exceeding earlier estimates.
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Wall Street dips as $100 oil, inflation worries weigh on investors
Oil prices keep rising and weigh on Wall Street - WXXV News 25
Specialists Dilip Patel works on the floor of the New York Stock Exchange, Thursday, Aug. 27, 2026, in New York. (AP Photo/Yuki Iwamura)By STAN CHOE NEW YORK (AP) — U.S. stocks fell Tuesday in their return to trading from a three-day weekend after the latest fighting in the war with Iran pushed oil prices higher. The S&P 500 sank 0.6%. The Dow Jones Industrial Average dropped 628...
The Fed's next interest rate decision is approaching, and US investors expect a majority increase. High oil prices as a result of the Iran war and AI fears in the software industry are also pushing the mood on Wall Street.
New York, 8 Sep (EFE).- Wall Street closed in red this Tuesday and its main indicator, the Dow Jones of Industrials, dropped by 1.18 % under pressure from the oil rise and pending the next data of inflation in the U.S. At the close of the New York Park, the Dow Jones dropped 628 points, to 52,786; [...] The Wall Street entry closes in red, pressed by oil rise and pending inflation was first published in HolaNews.
The Korea Times
Oil prices keep rising and weigh on Wall Street
NEW YORK — U.S. stocks are drifting lower Tuesday in their return to trading from a three-day weekend after the latest fighting in the war with Ira...
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