Commodities
US Stocks Tumble as Oil Price Shock Hits $107
US stocks closed sharply lower on Thursday, September 11, as Brent crude oil surged past $107 per barrel and the 10-year Treasury yield climbed to 4.95%, its highest level since October 2023.
The Nasdaq Composite fell 171.62 points, or 0.65%, to close at 26,081.72, while the Dow Jones Industrial Average dropped 316.56 points, or 0.60%, to 52,064.10, and the S&P 500 declined 44.66 points, or 0.58%, to 7,591.70.
The decline was driven by a 6.7% jump in WTI crude to $102.48 and a 5.9% surge in Brent to $107.63, both settling at their highest levels since May.