Wall Street Closed Lower; Oil Surges After Iran Attacks UAE
2 Articles
2 Articles
The Dow Jones lost 1.1%, the S&P500 index retreated by about 0.4% ● Brent crude oil traded around $114 per barrel ● US government bond yields rose, amid fears of an inflationary outbreak ● eBay shares jumped by about 7% following a takeover offer from GameStop ● Earlier, Trump announced that he would work to free ships stuck in the Strait of Hormuz • On Wall Street: A five-year high in the proportion of companies that beat forecasts
Wall Street closed with losses after a new military escalation in the Strait of Ormuz. Brent oil skyrocketed by 5.8% (USD 114.44), driven by Iranian drone attacks on port facilities in Arab Emirates and harassment of merchant ships. The situation puts the global supply at risk and raises Treasury bond yields to 4.44%. In response, President Donald Trump warned that he would "delete from the face of the Earth" Iran if U.S. ships were attacked, wh…
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