Global stock markets slide as oil market volatility rattles investors

By&nbspDoloresz Katanich&nbspwith&nbspAP

Published on Updated

Oil prices jumped again on Thursday as the war with Iran tightened its grip on the global economy, sending stock markets worldwide lower.


ADVERTISEMENT


ADVERTISEMENT

Brent crude, the international benchmark, briefly rose above $119 a barrel before easing back to $110.80, still a 3.2% increase from the previous day. US crude added 0.7% to $96.09 after Iran intensified attacks on oil and gas facilities in the Gulf in retaliation for an Israeli strike on a major Iranian gas field.

The strikes stoked fears that Gulf oil and gas production could be disrupted for months, keeping prices high and adding to global inflation pressures.

Stock indices tumbled across the US, Asia and Europe, with Germany and the UK shedding 2.5% and the CAC 40 in Paris being down by 1.9% at around 15:30 CET.

Earlier on Thursday, both the European Central Bank and the Bank of England held key interest rates, signalling that inflation projections may need revising amid surging energy prices.

Compared to the European bloodbath, Wall Street’s losses were more modest, with companies less reliant on Gulf oil.

The S&P 500 dropped 0.4% and is on track for a fourth consecutive losing week, its longest streak in a year. The Dow Jones was down 188 points (0.4%) and the Nasdaq 0.6% lower.

Traders are increasingly worried about oil-driven inflation, even factoring in a slim chance the Federal Reserve may need to hike rates this year. Just a month ago, markets were pricing in multiple cuts. The Fed’s decision on Wednesday to hold rates and Chair Jerome Powell’s cautious comments on cuts in 2026 reinforced a more cautious outlook.

Market pricing now suggests roughly an 80% chance the Fed will hold rates, with a near 5% chance of a hike by year-end. Treasury yields rose: the two-year yield touched 3.81%, its highest since the summer, while the 10-year held at 4.26%, up from 3.97% before the war began.

Economic reports also supported higher yields. US unemployment claims fell unexpectedly, and manufacturing growth in the mid-Atlantic region accelerated. Rising yields are pushing up mortgage and loan costs while weighing on a wide range of investments, from equities to crypto to gold.

Gold fell 6.6% to $4,575.60 per ounce, silver dropped 11.9%, and mining stocks plunged: Newmont down 6.7%, Freeport-McMoRan 6.1%. Micron Technology fell 4.1%, despite reporting a record quarter, erasing some of its 62% gain this year driven by a global memory shortage.

Tech and green stocks helped cushion losses. Rivian Automotive surged 8.5% after announcing a partnership with Uber, which will invest up to $1.25 billion and buy 10,000 autonomous robotaxis. Uber rose 0.2%.

Source link

Visited 1 times, 1 visit(s) today

Related Article

Top Medical AI Stock to Buy

Butterfly Network Inc (NYSE:BFLY) is among the best medical AI stocks to buy now. The stock has soared more than 90% over the past six months. On March 30, Butterfly Network announced that it secured FDA approval of its AI-powered handheld ultrasound tool for estimating gestation age. The company says this tool delivers results in

Jim Cramer Notes That Honeywell Shares Often Drop When It Reports

Honeywell International Inc. (NASDAQ:HON) was one of the stocks on Jim Cramer’s recent Mad Money game plan. Cramer noted that while he expects “good numbers” from the company, such numbers do not seem to matter, as he commented: Thursday’s got some big ones. First, there’s Investing Club holding Honeywell. I think this will be a

“It’s as Cheap as I’ve Seen It in Years”

The Procter & Gamble Company (NYSE:PG) was one of the stocks on Jim Cramer’s recent Mad Money game plan. Cramer said that it is “too soon for a turnaround” as he commented: Finally, on Friday, we hear from Procter & Gamble’s new CEO, and I think the quarter’s going to be weak. The last couple

The Smartest Growth Stocks to Buy With $1,000 Before the Nasdaq Heads Higher

The Nasdaq Composite index endured a torrid time in the first quarter of this year, shedding just over 7% of its value, with its momentum driven by factors such as the Middle East conflict, higher oil prices, mixed economic data, and the rising odds that the U.S. will soon enter a recession. However, the tech-heavy

Meet the Monster Stock That Continues to Crush the Market

The S&P 500 has had a volatile year so far. However, the benchmark is up 4% in 2026 (as of April 17). And in the past three years, it has climbed a notable 72%. But there’s a monster stock that continues to crush the market. Over the past three years, this business has seen its

Should You Buy USA Rare Earth While It’s Below $20?

Rare-earth stocks — that is, companies who mine or process any of the 17 silvery-white heavy metals crucial for tech and green energy — have been some of the market’s biggest winners over the last year. Just consider this: Since April 2025, the VanEck Rare Earth and Strategic Metals ETF, which includes MP Materials, has

4 Consumer Staples Stocks Built to Outlast Any Market Downturn

The most successful investors are those who emphasize continual learning. There are always lessons that the stock market is teaching. Just in the past decade, for instance, the S&P 500 index has experienced multiple drawdowns of greater than 10%. The takeaway is that volatility can’t be avoided; it’s just a part of how things work.

Suzhou Delphi Laser says to sell shares at 51.37 yuan apiece in share sale

End-of-day quote Shanghai S.E. 2026-04-17 5-day change 1st Jan Change 60.95 CNY +6.35% +15.22% +93.74% Published on 04/19/2026 at 03:58 am EDT Reuters This article is reserved for members Unlock the article: REGISTER NOW! © Reuters – 2026 03:58am Suzhou Delphi Laser says to sell shares at 51.37 yuan apiece in share sale RE Feb.

Palantir’s Stock Will Make a Huge Move on May 5

Palantir (NASDAQ: PLTR) is one of the most watched AI stocks on the market. It has massive popularity, but has struggled this year. While most of the AI segment of the stock market has rallied in recent weeks, Palantir’s stock continues to fall and is now down 35% from its all-time high. However, on May

The Market Is Nervous. This Growth Stock Is Your Shot at Doubling Up.

It’s no secret that equity investors have a lot of things on their minds. They were already concerned about the overall economy at the start of the year. The Iran war and the potential economic fallout took these worries to a new level. Investors’ most immediate concern is the effect of the rapid rise in

This Is My Favorite “Magnificent Seven” Stock Headed Into Earnings

When investors think about the “Magnificent Seven” these days, the conversation usually revolves around artificial intelligence (AI) and the staggering sums of money being spent to support it. And the capital expenditure plans coming from some of the biggest names in tech are truly mind-boggling. Will AI create the world’s first trillionaire? Our team just

Just Buy These 3 Growth Stocks and Hold Forever

If the stock market has (re)taught anything just since the end of February, it’s that it’s still very unpredictable… at least in the short run. The S&P 500‘s sizable 9% pullback in March has since been unwound with an amazing rebound of more than 10% in just four weeks. Nobody really saw either swing coming,

Should You Buy Lemonade Stock Before April 29?

The war in Iran has created a lot of volatility in the markets, and many stocks are experiencing fluctuating prices based on little more than conflicted investor sentiment. Right now, that sentiment is improving, and the S&P 500 is finally back in the positive for 2026, up 4% as of this writing. That means that

1 Growth Stock I Think Will Outperform Nvidia Stock Over the Next Decade

It’s been a phenomenal run for investors holding shares of AI chipmaker Nvidia (NVDA +1.67%). The company has enjoyed an unprecedented demand boom, helping its stock soar last year and rise even more in 2026. But what happens if this demand boom goes through a period of consolidation as the market for AI data centers

0
Would love your thoughts, please comment.x
()
x