Episode Details

Wall Street stocks plummeted Thursday as escalating oil prices due to the Iran conflict spooked investors. The S&P 500 dipped 0.7%, the Dow Jones Industrial Average lost 764 points (1.6%), and the Nasdaq slipped 0.3%. Oil prices surged, with Brent crude rising 3.8% to $84.52 per barrel and U.S. benchmark crude climbing 5.9% to $79.07, driving gas prices up 9% in a week. Retailers and airlines suffered the most, with American Eagle Outfitters plunging 11.8%, United Airlines dropping 6%, and Delta falling 5.5% amid Middle East travel disruptions. Broadcom, however, gained 5.5% on strong AI chip profits. Ten-year Treasury yields rose to 4.14% on inflation concerns, potentially pushing Fed rate cuts into summer. Global markets showed mixed reactions, with Asian indexes rebounding but European markets falling as oil prices continued to rise.

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