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Investors send stocks tumbling, Dow plunges 900 points
The Dow fell 1,160 points as Brent crude rose 5.2% amid fears the Iran conflict could disrupt global energy supplies and increase inflation risks, analysts said.
- A worldwide sell-off on Tuesday slammed Wall Street, with the Dow down 907 points, the S&P 500 falling 1.8%, and the Nasdaq composite dropping 2.1%.
- Worries that the war with Iran is widening prompted a rout as Iran struck the U.S. Embassy in Saudi Arabia, and global markets feared disruptions to the Strait of Hormuz.
- Oil benchmarks jumped, with Brent crude leaping 8.2% to $84.14 and U.S. crude rising 8% to $76.92 while the energy sector held up and Broadcom $AVGO surged after strong AI-chip revenue.
- Sectors exposed to fuel costs and consumer spending weakened sharply as United Airlines fell 4.1%, American Airlines sank 4%, Delta Air Lines dropped 3%, and gasoline rose 11 cents to about $3.11.
- Treasury yields climbed and volatility surged, with the 10-year Treasury yield jumping to 4.10% and the VIX up 10.5% to over 23, dimming prospects for rate cuts later this year.
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Dow drops 1,000 points after oil spikes to its highest price since the summer of 2024
The Dow Jones Industrial Average dropped more than 1,000 points after the price of oil spiked to its highest level since the summer of 2024 because of the war with Iran. The Dow sank 1,066 points, or 2.2%, Thursday and…
Coverage Details
Total News Sources44
Leaning Left7Leaning Right3Center27Last UpdatedBias Distribution73% Center
Bias Distribution
- 73% of the sources are Center
73% Center
L 19%
C 73%
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