Wall Street Falls for fourth straight day amid Middle East Conflict as oil surges
Wall Street opened lower for the fourth consecutive day amid escalating tensions from the Middle East conflict involving Israel and the United States.
Hence, the Dow Jones Industrial Average fell 871.35 points, a decline of 1.78%, while the S&P 500 dropped 106.57 points, or 1.515%. The Nasdaq Composite experienced an even sharper pullback, losing 410.87 points, equivalent to a 1.81% decrease.
On the commodities front, oil surged sharply, with WTI crude traded on the New York Mercantile Exchange jumping
8.79% to $77.49 per barrel. Natural gas also saw a significant increase, rising by 6%.
Traders fear that the conflict may last longer than initially expected, fueling uncertainty in financial markets and adding upward pressure on energy prices.
UCapital Asset Management LLP or group companies may have commercial relationships with the companies mentioned. This content is not financial advice.
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