Stocks Drop, Oil Surges Amid Iran War

0:00The latest headlines, weather, and stories, right here on Sydney News today. US stocks dip today amid rising oil prices tied to the ongoing war with Iran. The S&P 500 fell 0.3 percent. The Dow dropped 434 points or 0.9 percent and the NASDAQ slipped 0.4 percent. Brick crude jumped 5 percent to $92.18 per barrel while US crude rose 4.7 percent to 87. Dollars and 44 cents. Meanwhile, the International Energy Agency announced its members would release a record 400 million barrels from emergency stockpiles to ease. Near term prices, but investors worry a full fix needs the straight of hormones reopened where a fifth of global oil normally flows. The war has halted most traffic there, filling storage tanks and prompting producers to cut output. Stackflation fears are growing with higher oil, hitting an already warm economy. US inflation stated 2.4 percent in February, matching last month but above the Federal Reserve's

1:032 percent goal. Weaker hiring adds to concerns that high prices and slow growth could trap the economy in a tough spot. On Wall Street, most stocks fell, like Campbell's, which sank 5.8 percent on weak profits and cut forecasts. Oracle but the trend, surging 9.4 percent on strong earnings and upbeat cloud computing demand. European markets dropped, Germany's DAX down 1.4 percent, while Japan's Nikkei rose 1.4 percent. Treasury yields climb 2, with a 10 year at 4.21 percent, pressuring other investments. Traders now expect the Fed to delay interest rate cuts longer, despite calls from President Trump for quicker relief to boost jobs. This story is shared with support from our sponsor. Head in, sound on, lights out. That is the routine, S-O-L-I-SOLIPILLO.COM.