Episode Details

Oil prices surged again, causing a significant drop in U.S. stocks and dashing hopes for Federal Reserve interest rate cuts. The S&P 500, Dow Jones, and Nasdaq all fell, with the Nasdaq sank the most. The sell-off intensified as oil benchmarks rebounded, with Brent crude rising to $112.19 per barrel and U.S. crude settling at $98.32 per barrel. Treasury yields climbed, pushing the ten-year note to 4.39%, fueling inflation worries and slowing growth. Smaller company stocks were hit the hardest, with the Russell 2000 index down 2.5%. Super Micro Computer plunged over 30% after U.S. charges against its executives. FedEx was the only exception, up 1.1% on strong earnings. Global markets also dropped, with South Korea being the only exception. Oils wild swings highlight the wars uncertainty, and if prices stay elevated, investors could pull back even more.

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