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Commodities

Dow Tumbles Over 450 Points Amid Surging Oil Prices

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Oil
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The stock market took a hit on Thursday as oil prices surged, causing the Dow Jones to tumble by more than 450 points.

According to the CNN Money Fear and Greed index, the overall market sentiment saw a slight change, but remained in the 'Greed' zone with a reading of 60.

Despite this, initial jobless claims rose just 1,000 to 199,000, which was below forecasts of 202,000, indicating a tight labor market.

The Dow Jones closed lower by around 464 points to 53,885.10 on Thursday, while the S&P 500 fell 0.18% to 7,709.96 and the Nasdaq Composite slipped 0.06% at 26,348.35.

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