Stocks Plunge, Energy Prices Surge Amid Geopolitical Tensions
US News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Stocks plummeted today, with major indexes closing lower after early selling pressure. The S and P five hundred shed point nine four percent, while the Nasdaq dropped one percent. Materials stocks led the declines, and the Cboe Volatility index climbed as uncertainty grew. Geopolitical tensions in the Middle East drove much of the unease, with threats to block the Strait of Hormuz and output cuts from oil producers pushing up crude, natural gas, and shipping costs. Higher energy prices could reignite inflation, making it tougher for the Federal Reserve to ease rates.
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