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NASDAQ Slumps as Amgen Plunges Amid Rising Oil Prices

Guavy AI Editorial Team
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AMGN
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The NASDAQ index pulled back today due to a 9.6% decline in Amgen's stock, while the Dow Jones and S&P 500 also faced losses.

Rising oil prices and inflation worries weighed on the market, particularly for the SP 500. Brent oil rose above $99.00 and WTI tested the $94.00 level after Saudi Arabia confirmed Houthi attacks on its oil facilities.

This pushed energy stocks higher as traders focused on the Middle East situation, while utilities gained due to increased demand for safe-haven assets. However, healthcare and financial stocks declined in today's trading session.

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