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Commodities

US Stocks Plummet as Oil Prices Soar Past $101 Per Barrel

Guavy AI Editorial Team
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Oil
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The US stock market plummeted overnight due to a surge in oil prices, which have now crossed the $101 per barrel mark.

This sharp increase in crude oil prices led to a decline of around 6-7% in Brent crude and 5-6% in WTI crude. Additionally, rising treasury yields and a strengthening US dollar further dampened sentiments in equities.

Tech stocks were among the biggest losers, with Alphabet and Tesla experiencing significant declines after their quarterly earnings announcements.

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