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US Stocks Drop After Oil Prices Climb and the Bond Market Cranks the Pressure to New Heights
- On Monday, Wall Street opened lower after President Donald Trump rejected an Iranian proposal to end the conflict, sparking a spike in crude oil prices and reviving inflation worries.
- Over the weekend, Trump rejected an Iranian offer to reopen the Strait of Hormuz and resume nuclear talks, stating that "that deal would not be acceptable" despite interest in a potential agreement.
- Airline stocks fell as rising oil prices increased fuel costs, with American Airlines falling 3.5% and United Airlines losing 3.3%, while the Dow Jones Industrial Average fell 0.8% and the Nasdaq Composite dropped 1.2% by 11 a.m. Eastern time.
- Treasury yields surged significantly, with the 10-year Treasury jumping to 5.27% from 5.17% late Friday and the 30-year Treasury leaping to 5.57% from 5.49%, returning to 2024 levels.
- Worries about inflation persist, with the average price for a gallon of regular gasoline at nearly $4.48, while Brent crude remains well above the roughly $72 per barrel seen before February's United States and Israel attacks on Iran.
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55 Articles
55 Articles
Concerns about new inflationary pressures, in the face of a confrontation between the United States and Iran, deteriorated actions on Wall Street.
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The industrial average Dow Jones dropped 255 points, or 0.5%, followed by the S&P 500 falling 0.6%, and the Nasdaq Composite dropping 0.9%.
Coverage Details
Total News Sources55
Leaning Left6Leaning Right9Center15Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 20%
C 50%
R 30%
Factuality
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