US Markets Mixed, Oil Prices Surge, Tech Giants Fall

0:00U.S. stock markets showed a mixed performance today, with the S&P 500 down 0.4%, the Dow Jones industrial average up, just 42 points or 0.1% by 10am, Eastern Time, and the NAS that composite off by 0.6%, tensions in the Middle East kept escalating, as thousands more U.S. troops headed to the area and Iran clamped down on the straight of Hormuz through, which, about a fifth of the world's oil passes, that sent Brent Crude up 3.8% to $100.93 of barrel, while U.S. benchmark Crude rose 3%, to $93.05. Higher oil prices are fueling inflation worries, dimming hopes for Federal Reserve interest rate cuts this year, despite a slight uptick in, unemployment claims that remain historically low. The 10-year Treasury yield also climbed to 4.35%, pushing a borrowing cost for mortgages and businesses, which could slow the economy. Tech giants like Meta Platforms and Alphabet, dragged on the market, falling 3.1% and 1.4%

1:05respectively after A. Jury held Instagram and YouTube liable in a social media addiction case, opening the door to more lawsuits, even if penalties were minor. Several companies shown brighter, with Conoco Phillips of 1.4%, foreign markets took bigger hits, like Germany's DAX down 1.6%, and South Korea's Cosby off 3.2% as energy shocks. Ripple worldwide, and investors watched the stray closely. Local news, powered by AI, this is Vancouver News today, I'm Corey with the story.