US EditionInvestors send stocks tumbling, Dow plunges 900 points
The Dow plunged over 1,000 points as oil prices surged above $86 per barrel due to Iran conflict disrupting Strait of Hormuz shipments, raising inflation and economic growth concerns.
- On Friday, U.S. stocks opened lower and the Dow dropped as many as 945 points early before paring losses, with major indexes on track for weekly declines amid weak jobs data.
- After Iran launched new attacks, oil supplies and shipping became a central worry, with U.S. crude surging 8.5% to $81.01 a barrel as markets reacted.
- Market stress showed up in a 12% jump in the VIX as Treasury yields climbed Friday morning despite weak jobs data, while the Russell 2000 index fell 2.7%.
- Because of the war and rising oil, markets now expect later policy easing as traders pushed forecasts for Fed cuts into the summer and U.S. gasoline pump prices have already jumped.
- Analysts say the mix of higher oil and weak jobs raises stagflation risks, with Scott Wren expecting risk aversion to be short-lived until hostilities ease.
119 Articles
119 Articles
The Post and Courier
Business TimesUS stocks close down as oil spikes 12%, job market weakens
NEW YORK — Wall Street's three main indexes closed down to close the week on March 6 amid a sudden setback in the U.S. labor market and a 12 percent spike in U.S. oil prices due to the escalating conflict…
Dow and S&P Touch 3-Month Low as Middle East, Weak Jobs Report Weigh
Wall Street indexes fell on Friday, with the Dow and S&P 500 touching a more than three-month low, amid a sudden setback in the U.S. labor market and a 12% spike in U.S. oil prices. A disappointing payrolls report intensified worries that the U.S. economy could be cooling just as geopolitical tensions in the Middle East push energy costs sharply higher. That mix threatens to box in the Federal Reserve, complicating its path to rate cuts and revi…
Bowen Island Undercurrent
Stocks fall after oil prices spike near a 2-year high and reports suggest a slowing US economy
NEW YORK (AP) — U.S. stocks are falling Friday after getting a whiff of a worst-case scenario for financial markets: a weakening economy combined with high inflation. The S&P 500 dropped 1% after a report showed U.S.
Pittsburgh Post-Gazette
CTV NewsStocks sink after oil prices near a 2-year high and reports suggest a slowing U.S. economy
NEW YORK — U.S. stocks are falling Friday after getting a whiff of a worst-case scenario for financial markets: a weakening economy combined...
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