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By Pete Schroeder Sept 9 (Reuters) - Wall Street ended lower on Wednesday, with oil prices still stuck at over $100 a barrel, as ongoing Gulf tensions and inflation fears weighed on investors.
U.S. stocks extended their recent decline as the war in the Middle East continued to escalate and to drive up oil prices.
Dow Tumbles From Record High as Market Weakness Persists
The Federal Reserve's fight against inflation could pick up, and soon.
International oil benchmark Brent spiked above $100 a barrel Wednesday for the first time since late July following renewed US-Iran hostilities in the Middle East, stoking fears of widespread price rises and interest rate hikes. Iran on Wednesday launched fresh attacks against US targets in the Middle East in retaliation for American strikes on Iranian oil tankers, dragging the foes deeper into war.
Escalating U.S.-Iran tensions sent oil surging roughly 3%, rattling investors with fresh fears about inflation
U.S. stock futures fell and Treasury yields ticked higher after Brent topped $100 a barrel for the first time since July.
Investing.com -- Bank of America told clients in a note on Wednesday that it would take a lot for macroeconomic forces to derail the artificial intelligence-driven rally in technology stocks, even with long-term bond yields at multi-year highs.
U.S. stock futures were steady and Treasury yields ticked higher after Brent briefly topped the $100 a barrel mark for the first time since July.
Stocks were under pressure as oil prices continued their journey upward and traders shifted their expectations of a Fed rate hike in September.
Asian shares were mixed in cautious trading early Wednesday as investors watched for what might happen on interest rates and the war with Iran pushed oil prices higher. Japan's benchmark Nikkei 225 was nearly unchanged at 65,249.95, and South Korea's Kospi gained 1.2% to 7,041.10. The Shanghai Composite gained 0.2% to 3,949.89.
The Nasdaq Composite dipped 0.3%. It comes down to the “usual suspects,” notes Joe Mazzola, head trading and derivatives strategist at Charles Schwab: oil, Treasuries, and tariffs. Reports that Yemen’s Houthis attacked Saudi Arabian oil facilities caused oil prices to spike today.
Oil futures neared $100 a barrel as the war in Iran dragged on, weighing on stocks. The Dow Jones Industrial Average slipped 1.2%, or 626 points. The S&P 500 dropped 0.6%. The Nasdaq Composite dipped 0.
Bitcoin is defending its golden zone support while the S&P 500 grinds inside its tightest range yet, both waiting on Friday's inflation report before the Fed's September 16 rate call.
Stocks were under pressure as the war in Iran sent oil prices higher, but the conflict wasn't the market’s only hurdle. The tariff feud between the U.S. and Canada may also reintroduce a trade war into the mix. The Nasdaq Composite dropped 0.2%.
U.S. Stocks Slide as Rising Oil Prices Rekindle Inflation Fears
WAFD's EverBank merger targets 29% EPS accretion in 2027, a broader deposit base, and a larger, more diversified commercial banking model.
By Amanda Cooper and Pete Schroeder LONDON/WASHINGTON, Sept 8 (Reuters) - U.S. stocks fell on Tuesday morning, as attacks on energy facilities around the Gulf pushed oil to near $100 a barrel.
An escalating US-Canada trade dispute added to inflation concerns at the start of the holiday-shortened week
US equity futures were lower pre-bell Tuesday, coming off a three-day weekend as traders assessed ri
US equity investors are expected to focus on August's inflation data and the Iran war this week as c
U.S. markets wobbled as higher oil prices dragged sentiment before investors return from the Labor Day weekend.
The stock market’s No. 1 catalyst is fueling already elevated inflation.
US stock futures slipped on Tuesday as rising oil prices and inflation jitters took focus at the start of the holiday-shortened week.
MARKETS MAIN Oil prices continued to rise in early European morning trade after Iranian forces fired ballistic missiles on two U.S. Navy warships, representing a fresh escalation in the six-month conflict.
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