Commodities
Crude Prices Spark Inflation Fears, Stocks Settle Lower
Stocks settled lower on Thursday as rising crude prices sparked inflation fears and pushed bond yields higher.
The S&P 500 Index SPY closed down by -0.87%, the Dow Jones Industrial Average DIA closed down by -1.32%, and the Nasdaq 100 Index QQQ closed down by -0.72%.
E-mini S&P futures (ESU26) fell -0.85%, and September E-mini Nasdaq futures (NQU26) fell -0.76%.
WTI crude oil climbed to a 1-month high after President Trump threatened Iran with economic isolation, dimming prospects for both an imminent breakthrough in the war between Iran and the US and a normalization of crude flows through the Strait of Hormuz.