Markets Plunge Amid Iran Tensions, Tech Giants Drag
Boston News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Stocks plummeted, marking the worst day since January, with the S&P 500 down 1.7% and the Dow dropping 469 points. The Nasdaq plunged 2.4%, entering correction territory. Iran conflict escalation, with troops deployed and strait control tightened, pushed oil prices up. Brent crude reached $111.89, a 4.8% increase. Bond yields surged, with the 10-year Treasury hitting 4.42%. Tech giants, including Meta, Alphabet, and Nvidia, fell amid a social media addiction case verdict. Wall Streets hopes for rate cuts dimmed due to inflation fears from soaring energy costs. All major indexes closed sharply lower, with the S&P off 7.2% from its recent high. Overseas markets also declined, as investors face more uncertainty.
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