U.S. stocks sank after oil prices jumped to their highest levels since May. The S&P 500 fell 0.6% Thursday for a fourth straight loss. The Dow Jones Industrial Average dropped 0.6%, and the Nasdaq composite sank 0.7%. Stocks felt pressure as the price for a barrel of Brent crude briefly topped $108 because the war with Iran continues to clog the global flow of crude. Treasury yields leaped in the bond market on increased worries about inflation, and the 10-year yield jumped to 4.95%. That’s up nearly a whole percentage point since the war with Iran began.
Stocks fell on Wall Street as the price of crude oil topped $100 a barrel again. The S&P 500 lost 0.5% Wednesday. The Dow Jones Industrial Average gave up 0.8%, and the Nasdaq composite dropped 0.6%. The price of Brent crude jumped 3.4%, going back above $100 a barrel for the first time since July. The surge in oil prices follows the latest attacks between the U.S. and Iran. The conflict has stifled the flow of oil through the Strait of Hormuz. Treasury yields moved higher. Markets fell in Europe and were mixed in Asia.
FILE -Travelers queue up to pass through the south security checkpoint in Denver International Airport Wednesday, July 2, 2025, in Denver. (AP Photo/David Zalubowski, File)
Oil giant Chevron is expanding its operations in Venezuela as some details emerge about President Donald Trump's separate deal for a U.S.-controlled joint venture to develop more of the nation's proven reserves. Canadian Prime Minister Mark Carney is calling on the Trump administration to get serious about trade talks after a fresh wave of online taunts. And a record percentage of Americans — about 9 in 10 – believe there’s widespread corruption in the U.S. government, according to a new Gallup poll released Wednesday. That’s up 10 percentage points from last year.
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