Forex
Dow Plunges as Oil Prices Soar Near $100 a Barrel
The Dow Jones Industrial Average plummeted by 628 points on Tuesday, a decline of 1.2%, as surging oil prices fueled inflation concerns and pushed investors to reassess interest rates.
The S&P 500 fell 45 points, or 0.6%, to 7,674, while the Nasdaq slipped 86 points, or 0.3%, to 26,421.
Escalating tensions in the Middle East disrupted energy supplies, sending Brent crude close to $100 a barrel.
The 10-year U.S. Treasury yield climbed to around 4.8% as investors increasingly priced in the possibility of another quarter-point Federal Reserve rate hike at the upcoming policy meeting.