Dow falls 450 points, posts worst week in nearly a year as oil tops $90, jobs data disappoints Stocks declined sharply on Friday, marking their worst weekly performance in nearly a year, as oil prices surged past $90 per barrel and disappointing U.S. jobs data weighed on investor sentiment. The Dow Jones Industrial Average dropped 453.19 points, or 0.95%, to close at 47,501.55, with its intraday low falling nearly 2% at 47,555. The S&P 500 fell 1.33% to 6,740.02, while the Nasdaq Composite dropped 1.59% to 22,387.68. The declines followed a broader sell-off, with the S&P 500 losing 2% and the Dow falling 3% for the week. The market’s slump was driven by a combination of factors, including a sharp rise in oil prices and weak economic data. West Texas Intermediate crude oil broke above $90, ending the week with a 35% gain—the largest weekly increase since oil futures trading began in 1983. The surge was fueled by tensions in the Middle East, with President Donald Trump’s comments on the U.S.-Iran conflict amplifying fears of a prolonged war. Qatar’s energy minister, Saad al-Kaabi, warned that Gulf producers might invoke force majeure to halt oil production, potentially pushing prices to $150 per barrel. Analysts expressed caution about the oil market’s volatility. Jeremy Siegel, a Wharton professor emeritus, said he was “very cautious” about the situation, warning that if no resolution emerges over the weekend, oil prices could reach $100 per barrel next week. Jed Ellerbroek of Argent Capital Management noted that the gap between oil’s high and low prices had widened significantly, with even a 20% discount on al-Kaabi’s $150 projection still leaving prices at “scary” levels. The jobs data further dampened investor confidence.#dow_jones_industrial_average #s_p_500 #bureau_of_labor_statistics #west_texas_intermediate #nasdaq_composite
Stock Market Plummets as Oil Prices Surge Past $100 a Barrel Stock futures plunged sharply on Sunday as U.S. oil prices crossed the $100-per-barrel threshold, intensifying concerns about the economic fallout from the ongoing U.S.-Iran conflict. The Dow Jones Industrial Average faced its largest weekly decline in nearly a year, with futures tied to the index falling 806 points, or 1.7%. S&P 500 and Nasdaq 100 futures also dropped by 1.5% each, reflecting widespread investor anxiety. The sharp drop in stock futures followed a dramatic rise in oil prices, with West Texas Intermediate crude surging 18% to over $108 a barrel. This marked the first time U.S. oil prices have exceeded $100 since July 2022, when global markets were reacting to the aftermath of Russia’s invasion of Ukraine. International benchmark Brent crude also climbed 16% to above $107 a barrel, driven by the continued closure of the Strait of Hormuz, a critical oil shipping route. The surge in oil prices was fueled by production cuts from major Middle East producers, including Kuwait and Iraq, which have seen output decline significantly due to the conflict. Kuwait announced output reductions but did not specify the extent, while Iraq’s production fell by 70% amid the crisis. Analysts warned that sustained prices above $100 could strain the U.S. economy, with many on Wall Street viewing the level as a potential tipping point unless the war resolves quickly. The U.S.-Iran conflict has already disrupted global markets, with U.S. crude prices rising over 35% in the past week—the largest weekly gain since the futures contract began trading in 1983. This spike contributed to the Dow’s worst weekly decline since early 2025, when President Donald Trump’s initial tariff announcements sent markets into turmoil.#dow_jones_industrial_average #s_p_500 #brent_crude #strait_of_hormuz #west_texas_intermediate
