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US stocks erase a big early loss and rise after oil prices whip from nearly $120 back below $90
U.S. stocks recovered from early losses as oil prices dropped over 25% from near $120, following President Trump’s remarks easing fears of prolonged Iran conflict disruptions.
- Oil briefly spiked to nearly $120 a barrel as the Iran war intensified, and Wall Street futures for the S&P 500, Nasdaq and Dow Jones Industrial Average fell more than 1% before the opening bell after retreating over 2% late Sunday.
- Both sides in the Iran war struck new targets over the weekend, including civilian sites, with Bahrain accusing Iran of hitting a desalination plant and a refinery declaring force majeure.
- Amid trading volatility in Asia and Europe, Japan's Nikkei plunged more than 7% early and closed 5.2% lower at 52,728.72, while U.S. airline shares fell over 3%.
- Senior officials of Southeast Asian countries are meeting in Manila as South Korean President Lee Jae Myung warned against hoarding and said the government would cap fuel prices, while the U.S. dollar gained at 158.45 yen and the euro rose to $1.1563.
- Analysts warned oil will likely fluctuate at elevated levels for weeks, reviving global inflation and weighing on economic growth; the last time oil rose above $100 was shortly after Russia invaded Ukraine in 2022.
45 Articles
45 Articles
World oil prices are moving like on a seesaw. After a sharp increase in recent days, they have started to fall again quickly. And stock markets are also strengthening. Investors reacted to the statement of US President Donald Trump, according to which the conflict with Iran could end soon. However, tensions in energy markets persist and analysts warn that prices may still fluctuate significantly.
Asia markets rebound, oil prices plunged as Trump says Iran war could be 'over soon'
Indian stock markets opened on a positive note on Tuesday, with Sensex rising more than 800 points and Nifty jumping above the 24,200 mark as US President Donald Trump’s comments on Iran war, fall in oil prices, and other factors boosted market sentiment after incessant selloff. Sensex opened around 810 points higher at 78,375.73, while the Nifty 50 index gained nearly 253 points to open at 24,230.80. The rise in the stock markets added more tha…
Calm returns to Wall Street as oil prices retreat below $90 per barrel
Trading steadied early Tuesday and crude prices eased after wild swings this week with investors trying to figure out how long the war with Iran will continue.Futures for the Dow Jones Industrial Average rose 0.2% before the opening bell, while S&P 500 futures inched up 0.1%. Futures for the Nasdaq were up 0.2%.On Monday, markets swung from big losses to finish the day with gains, while oil prices neared $120 per barrel before falling back to ab…
Asia Markets Rebound, Oil Dives as Trump Says Iran War Could End Soon
SINGAPORE, March 10 (Reuters) – Asian stocks rallied and oil prices plunged at the start of trading on Tuesday, following a volatile session for markets overnight after U.S. President Donald Trump declared the Middle East war could be “over soon.”
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