Markets Plunge Amid Iran Tensions, Oil Surge
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
U.S. stocks plummeted Thursday, marking a fifth consecutive losing week, as tensions with Iran escalated and oil prices surged. The S&P 500 dropped 1.7%, with the Dow and Nasdaq following suit. Iran rejected a U.S. ceasefire proposal and tightened control over the Strait of Hormuz, causing oil prices to soar. Brent crude reached $111.89 per barrel, while U.S. crude climbed to $94.48. Higher Treasury yields and a slight increase in unemployment claims added to market pressure. Tech stocks, including Meta Platforms, Alphabet, and Nvidia, led the decline. Global markets also fell, with investors bracing for more volatility amid ongoing geopolitical tensions and elevated oil prices.
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