Middle East Crisis Drives Market Jitters
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
U.S. stocks plummeted, marking their fourth consecutive weekly loss, as the S and P five hundred hit a six-month low. The Nasdaq Composite fell nearly ten percent from its October peak. The escalating Middle East crisis, with Iran striking energy sites and the U.S. deploying Marines, is the primary market concern. Oil prices surged, with U.S. crude settling around ninety-eight dollars a barrel and Brent crude near one hundred twelve dollars. The energy sector in the S and P has climbed since prices spiked, but rising Treasury yields and the index dipping below its two hundred-day moving average add to market worries. Economic reports and a big energy conference in Houston are upcoming, but Middle East developments will likely dominate, potentially leading to prolonged conflict, more infrastructure attacks, and persistently high oil prices.
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