Forex
Oil Price Surge Sends US Stocks Lower Amid Renewed Middle East Tensions
US stocks opened lower on Tuesday as renewed hostilities in the Middle East pushed oil prices higher, raising concerns about potential disruptions to energy supplies.
The Dow Jones Industrial Average fell by 471 points, while the S&P 500 and Nasdaq Composite declined by 0.16% and 0.09%, respectively.
The market is currently pricing in a 58.4% probability of a rate hike at the Federal Reserve's September meeting, according to the CME FedWatch tool.
Brent crude futures rose by 1.64% to $98.59 a barrel, reaching their highest level since July 24, while West Texas Intermediate crude gained 3.3% to $94.54.