Oil shock from Iran war rattles markets and shakes rate-cut hopes [Wealth Professional (Canada)]
Free Flow Inc (FFLO)
NASDAQ:AMEX Investor Relations:
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Source: Wealth Professional
Oil has surged more than 12 percent this week while threats to the Strait of Hormuz escalate and markets scramble to re-price inflation and rate-cut expectations. According to BNN Bloomberg , a global sell-off hit Wall Street on Tuesday, with the S&P 500 down as much as 2.5 percent intraday before closing 0.9 percent lower. The Dow Jones Industrial Average dropped more than 1,200 points at its low and finished down about 0.8 percent, while the Nasdaq composite ended 1 percent lower. CNBC reported similar moves, noting that all S&P 500 sectors closed in the red and that materials and industrials led losses as investors weighed the impact of higher energy prices and borrowing costs. The shock is coming through oil. BNN Bloomberg reported that Brent crude, the global benchmark , briefly jumped above US$84 before settling at US$81.40, up 4.7 percent on the day, while benchmark US crude also rose 4.7 percent to US$74.56. CNBC said both Brent and WTI had spiked more than 9 perc
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News
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- Oil Extends Advance as Traders Weigh US Escort Plan for Hormuz [Yahoo! Finance]Yahoo! Finance