Asian Shares Fall and Oil Prices Hold Steady Above $100 a Barrel
Energy stocks rose as Exxon Mobil and Chevron gained while rising Treasury yields and inflation worries pushed most other sectors lower.
- Wall Street skidded Thursday as the price of Brent crude traded above $100 a barrel, driven by escalating conflict with Iran that is stifling oil flow through the Strait of Hormuz.
- Higher fuel costs cut into household budgets directly and raise prices for goods indirectly through shipping costs, as gasoline prices sit about 32% higher than a year ago at $4.22 per gallon.
- Every sector within the benchmark S&P 500 declined except for energy, where Exxon Mobil rose 2.2% and Chevron added 1.9%, while retailers like Amazon fell 1.8%.
- Rising yields signal investors are demanding higher returns, with the 10-year Treasury yield hitting 4.85% on Tuesday; markets now lean toward a 62% chance the Federal Reserve will raise benchmark rates next week.
- To contain rising yields, the U.S. Treasury Department said Wednesday it would buy back up to $6 billion in long-term debt, following an August announcement previewing the unusually large intervention.
13 Articles
13 Articles
Stocks fall on Wall Street as oil prices jump back above $100 a barrel after Iran war escalates - WXXV News 25
Specialists Gregg Maloney, left, and Michael Shearin work on the floor of the New York Stock Exchange in New York, Friday, Aug. 21, 2026. (AP Photo/Yuki Iwamura)By DAMIAN J. TROISE and ALEX VEIGA Stocks on Wall Street lost ground again Wednesday as the price of crude oil climbed back above $100 a barrel amid further escalation in the U.S. war with Iran. The...
Asian Stocks Slide as Oil Prices Hold Above $100 a Barrel
NewsFinale NewsFinale Journal BANGKOK – Asian stock markets moved lower Thursday, tracking losses on Wall Street as renewed pressure from oil prices rattled investors and crude once again climbed above $100 a barrel. U.S. stock futures, however, edged slightly higher, suggesting a steadier start ahead for American markets. Brent crude surged 3.4% on Wednesday, breaking through the $100-a-barrel […]
Coverage Details
Bias Distribution
- 46% of the sources lean Left, 45% of the sources are Center
Factuality
To view factuality data please Upgrade to Premium
