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Commodities

Oil Prices Soar Amid Middle East Conflict, Dragging US Stocks Down

Guavy AI Editorial Team
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Oil
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The US stock market fell on Wednesday as the S&P 500 dropped 1.5%, while oil prices surged due to renewed conflict in the Middle East.

The Dow Jones Industrial Average declined by 2.2% and the Nasdaq composite lost 1.7%. Micron Technology, Nvidia, and AMD were among the tech stocks that weighed on the market.

In contrast, Apple's stock rose 0.6%, with analysts calling it an 'anti-AI' bet due to its limited spending on artificial intelligence technology.

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