Reported 1 day ago
Oil prices surged by 7% due to fears of disrupted global crude supplies following heightened tensions between Israel and Iran, leading to a significant drop in US stocks. The S&P 500 fell 1.1%, while major indices like the Dow Jones and Nasdaq also reported losses. Investors are apprehensive that escalating violence could impact oil flow, causing prices to rise, which in turn raises concerns about inflation and economic stability.
Source: YAHOO