Stocks Plummet, Oil Prices Soar Amid Iran War
Oakland News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Stocks plummeted Friday, marking a fifth consecutive weekly decline, the longest in nearly four years. The S&P 500 dropped 55 points, or 0.85%, to 6422, while the Dow Jones Industrial Average lost 371 points, or 0.8%, to 45589. The Nasdaq slid 1.3%. Rising oil prices, due to the Iran conflict, fueled the sell-off. Brent crude rose 2.2% to $104.13 per barrel, and U.S. crude climbed 3% to $97.28. Consumer confidence plummeted, with middle- and high-income groups hit hardest. Bond markets reacted too, with the ten-year Treasury yield climbing to 4.44%. Oil could surge to $200 a barrel by late June if the conflict persists, keeping pressure on stocks and everyday prices.
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