Sharp increases there are raising worries that a long-term spike could exhaust households’ ability to spend, grind down the global economy and push interest rates higher.

The index had been down as much as 2.5% in the morning because of worries that the war may do more sustained damage to the economy than feared.

U.S. oil prices hit 2024 highs and stocks tumble as the Iran conflict escalates, threatening global markets and inflation.

The U.S. stock market is holding steadier Wednesday following two days of punishing swings driven by worries about how high oil prices will go because of the war with Iran.

Sharp increases there are raising worries that a long-term spike could exhaust households’ ability to spend, grind down the global economy and push interest rates higher.

Benchmark global and U.S. oil prices hit their highest levels in almost two years as U.S. Treasuries fell for the fifth day in a row.

Benchmark global and U.S. oil prices hit their highest levels in almost two years as U.S. Treasuries fell for the fifth day in a row.

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 Dow Jones Industrial Average plunged as many as 945 points before finishing with a loss of 453, or 0.9%, and the Nasdaq composite sank 1.6%.