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U.S. Stocks Fall as Oil Rises and Jobs Data Weigh on Markets
U.S. crude oil futures surged over 12% to above $90 per barrel after a U.S.-Israeli military action halted shipping through the Strait of Hormuz, raising market volatility.
- On March 6, U.S. stocks closed lower in New York, with the S&P 500 losing 91.64 points, the Nasdaq shedding 361.31 points, and the Dow falling 447.12 points.
- A disappointing payrolls report intensified worries the U.S. economy may be cooling as the unemployment rate rose to 4.4% amid a healthcare workers' strike and harsh winter weather.
- Oil prices jumped, with U.S. crude over $90, and Michael Arone said, `'We are marching closer each day to $100 a barrel of oil, and that has caused much greater volatility and anxiety,'` highlighting rising market uncertainty.
- Odds for a June rate cut shifted sharply as traders repriced risk, pulling forward bets for a 25-basis-point interest rate cut with June odds about even, complicating the Federal Reserve's path.
- Redemption pressures and tighter credit conditions cloud the near-term outlook for lenders as withdrawal limits at private credit funds rise amid oil-driven input cost pressures.
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Stock Market Today: Major Indexes Retreat After Jobs Report Comes in Far Worse Than Expected, Oil Hits $90 a Barrel; Dow Ends Down 450 Points
Major stock indexes pulled back Friday to close lower for a second straight week after the U.S. employers unexpectedly cut jobs in February and oil futures soared above $90 a barrel.
U.S. Indexes Closed Down Friday; Bloom Energy Posted Biggest Loss
·New York, United States
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[Digital Daily Reporter Lee Sang-il] The U.S. stock market fell for two consecutive days, weighed down by soaring international oil prices and deteriorating employment data. Amid the surge in crude oil prices due to heightened tensions in the Middle East, a larger-than-expected decline in employment weighed on investor sentiment. On the 6th (local time), the Dow Jones Industrial Average closed at 47,501.55, down 453.19 points (1%) from the previ…
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Leaning Left3Leaning Right0Center3Last UpdatedBias Distribution50% Left, 50% Center
Bias Distribution
- 50% of the sources lean Left, 50% of the sources are Center
50% Center
L 50%
C 50%
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