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Rising Oil Prices, Falling Technology Stocks and Reversing Bond Yields Keep Wall Street Unsettled
Rising oil prices fueled inflation worries as investors sold technology shares and Treasury yields swung higher.
- On Thursday, stocks fell as the Brent crude oil price rose 4.3% to $104.49, creating sharp reversals across financial markets. The S&P 500 declined 0.5%.
- President Donald Trump said "productive discussions" are happening with Iran and that the U.S. military would not attack before November elections, tempering oil's earlier surge toward nearly $106.
- Technology shares declined sharply: Nvidia fell 2.9%, Taiwan Semiconductor Manufacturing stock dropped 3%, and Samsung Electronics fell 2.4% despite posting roughly $80 billion in quarterly profit.
- Treasury yields swung wildly as the 10-year rate moved between 5.35% and 5.23%, while the U.S. government sold $22 billion in 30-year bonds at a 5.618% yield.
- PepsiCo climbed 2.7% after reporting stronger quarterly results, though the Nasdaq composite fell 1.3% as investors remained cautious about inflation and government debt.
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Rising oil prices, falling technology stocks and reversing bond yields shake Wall Street
NEW YORK (AP) — Some sharp reversals kept financial markets unsteady, as oil prices rose and U.S. stock indexes swung. The S&P 500 fell 0.5% Thursday, its second straight loss after setting an all-time high.
Developments in the oil and bond markets dominate the markets in the USA. Stock markets will have important impulses in the coming weeks.
·Düsseldorf, Germany
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The New York Stock Exchange ended in red on Thursday, marked by a sharp rise in oil prices with heightened concerns about the Middle East, as the US market also suffers from a wave of sales of technological assets.
·Montreal, Canada
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Coverage Details
Total News Sources25
Leaning Left10Leaning Right4Center4Last UpdatedBias Distribution56% Left
Bias Distribution
- 56% of the sources lean Left
56% Left
L 56%
C 22%
R 22%
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