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US stocks fall amid rising oil and earnings misses
U.S. stocks declined notably today, Thursday, amid rising oil prices due to escalating tensions in the Middle East, especially after the Houthi attacks on two Saudi oil tankers in the Red Sea and Trump's threats to bomb Iran. The Dow Jones Industrial Average dropped by 507 points (1%), while the S&P 500 lost 1.2%, and the Nasdaq fell by 2.2%. Oil prices surged sharply, with Brent increasing by 7% to close at $100.69 per barrel, and West Texas Intermediate rising by 6% to $92.19, amid expectations of an escalation in the Iranian crisis. U.S. Treasury yields also rose, with the 10-year bond yield surpassing 4.7%, the highest level since January 2025. In light of these developments, tech companies boosted their forecasts for AI spending, but Tesla and Alphabet's earnings were disappointing, with their shares declining significantly.
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