Oil Prices Surge Toward $100 Amid Middle East Attacks

Middle East energy facilities were targeted again, causing oil prices to surge toward $100 per barrel. The Dow Jones Industrial Average plummeted over 628 points on its first trading day after Labor Day.

The attacks on Iran's Kharg Island, the country's primary oil export hub, intensified global concerns about tightening oil supply. Brent crude futures reached their highest level since late July, while West Texas Intermediate and North Sea Brent crude prices also increased significantly.

Semiconductor stocks bucked the trend, with notable strength in Intel, TSMC, UMC, AMD, Broadcom, and Nvidia. The Philadelphia Semiconductor Index rallied 1.30%, driven by positive news from chip giants Intel and TSMC's upgrade partnership with ASML.