Oil Rises, Stocks Slip on Fragile Mideast Peace Hopes
Oil prices climbed after renewed U.S.-Iran fighting, while investors awaited labor data and Fed signals that could shape rate expectations.
- U.S. stock markets pulled back from record highs on Wednesday as intensified Middle East hostilities and rising oil prices stoked inflation concerns, prompting investors to secure profits.
- An Iranian missile attack damaged Kuwait's airport on Wednesday, and the United States military responded with strikes near the Strait of Hormuz, severely testing a shaky ceasefire between the two nations.
- The Dow Jones Industrial Average fell 620.72 points, or 1.21%, to 50,687.07, while the S&P 500 lost 56.06 points, or 0.74%, to 7,553.72 as tech and financial sectors led declines.
- Bill Northey, senior investment director at U.S. Bank Wealth Management in Billings, Montana, said "the longer the duration of that closure, the less likely the Federal Reserve will be able to ease in 2026."
- The Organisation for Economic Co-operation and Development warned on Wednesday that the conflict could slow global economic growth to 2008 financial crisis levels and push inflation sharply higher if fighting continues into next year.
29 Articles
29 Articles
The Korea Times
연합뉴스-Yonhap News AgencySeoul shares open sharply lower on Wall Street losses, renewed Iran tension
Korean stocks opened sharply lower Thursday, tracking overnight losses on Wall Street caused by uncertainty over negotiations between the United States and Iran to end their war in the Middle East. After starting 2.02 percent lower, the benchmark Korea Composite Stock Price Index (KOSPI) lost 180.03 points, or 2.05 percent, to 8,621.46 as of 9:15 a.m. The KOSPI closed at an all-time high of 8,801.49 on Tuesday. The local stock market was closed …
Channel News Asia
Free Malaysia Today NewsOil rises, stocks slip on fragile Mideast peace hopes
NEW YORK: Oil prices rose on Wednesday (Jun 3), edging closer to US$100 a barrel while stocks fell as further attacks between the United States and Iran dented hopes of an imminent peace deal.Wall Street indexes tumbled and European stocks were mostly in the red, following a mixed showing
Coverage Details
Bias Distribution
- 41% of the sources are Center
![[your]NEWS](/_next/image?url=https%3A%2F%2Fgroundnews.b-cdn.net%2Finterests%2Ffb6dc495f74049f513563c33352175eaa0ecd509.jpg%3Fwidth%3D60&w=128&q=75)
Factuality
To view factuality data please Upgrade to Premium
