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Calm Returns to Wall Street and the Oil Market Following Monday’s Extreme Swings
Oil prices dropped 7.2% amid Middle East conflict and market uncertainty, causing volatile intraday swings on Wall Street and global markets, with investors awaiting conflict resolution.
- On Tuesday, U.S. stock market held relatively steady after swings, with the S&P 500 down 0.1%, Dow down 34 points, and Nasdaq up 0.1%.
- Blockages in the Strait of Hormuz have curtailed normal oil flows where a fifth of world oil typically sails, while Iran launched new attacks Tuesday at Israel and Gulf Arab countries.
- U.S. crude hovered near $88.57 after volatile swings, while Brent crude traded at $91.81, reflecting ongoing supply concerns. Asian and European indexes surged.
- In the bond market, the 10-year Treasury yield slipped to 4.11%, reflecting risk shifts into bonds, while sustained high oil would strain household budgets and companies' fuel and stocking costs.
- Wall Street is waiting for the next signal about how long the war may last, with Ali Mohammad Naini saying 'Iran will determine when the war ends' and Trump’s remarks unclear on timing.
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The Times-TribuneCalm returns to Wall Street and the oil market following Monday's extreme swings
The U.S. stock market and oil prices are holding relatively steady following their stunning swings up and down since the war with Iran began. The S&P 500 edged down 0.1% Tuesday. The Dow Jones Industrial Average dipped 34 points, and…
The energy price shock mainly affects airlines, industrial and raw material values and fuels new inflation and recession concerns.
Markets slide as oil prices rise amid the Iran conflict
Stock markets are in decline following the surge in oil prices as a result of the ongoing conflict in Iran and the Middle East. NBC News’ Christine Romans reports that the oil price can affect everyday costs and a variety of industries, from airlines to trucking to farming.
The three main Wall Street indices closed the session this Tuesday virtually unchanged. Shareholding averages stabilized in the midst of the sharp drop in oil, while the market assimilated favorable projections of the war against Iran.The Dow Jones Industrial Average, made up of the shares of 30 giants, yielded 0.07% to 47,706.51 points, while the S&P 500, of the most valuable companies, lost 0.21% to 6,781.48 points.The Nasdaq Composite advance…
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