Oil prices surged to their highest levels since 2023 due to the Iran war, coinciding with a weak update on the US labour market that highlighted the economy's precarious position.
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Oil prices surged to their highest levels since 2023 due to the Iran war, coinciding with a weak update on the US labour market that highlighted the economy's precarious position.
The S&P 500 dropped 1% after oil prices spiked above $90 per barrel. The Dow Jones Industrial Average was down 425 points, or 0.9%, with roughly an hour remaining in trading, and the Nasdaq composite was 1.1% lower.
Oil Surges To Its Highest Price Since 2023, And Stocks Drop After A Weak Update On The U.S. Job Market
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