Stocks Plunge as Oil Prices Skyrocket
Bakersfield News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Wall Street stocks plummeted Thursday as oil prices skyrocketed to their highest level since summer 2024, driven by the Iran war. The Dow Jones Industrial Average dropped 784 points, while the S&P 500 erased its yearly gains. Airlines suffered the most, with American, United, and Delta stocks falling significantly. Broadcom was a rare bright spot, rising after strong AI chip sales. Treasury yields increased, potentially delaying rate cuts and slowing the economy. Investors advise patience, as markets often recover quickly from Middle East tensions if oil prices stabilize.
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