U.S. Stocks Fall for Fourth Consecutive Day Amid Rising Bond Yields, Oil Prices
On Thursday, U.S. stocks continued their downward trend as rising oil prices and Treasury yields pressured major indexes like the Dow Jones Industrial Average (^DJI), S&P 500 (^GSPC), and Nasdaq Composite (^IXIC). All three indices fell by approximately 0.6%, marking a fourth consecutive day of losses, driven in part by geopolitical tensions in the Middle East following Iran's attack on U.S. Navy warships. Oil prices surged past $105 per barrel as Saudi Arabia reported its lowest oil production levels since 1990 and ongoing conflicts raised concerns about energy shocks spilling into broader inflation. The Producer Price Index (PPI) also rose by 5.4% year-on-year, reinforcing expectations that the Federal Reserve may raise interest rates at its upcoming meeting. Investors will closely watch Friday's consumer inflation report to gauge whether a rate hike is likely. Oracle (ORCL) was expected to release earnings after market close, potentially offering insight into AI spending and demand trends.
Tickers: $AAPL $GOOG $GOOGL $ORCL
Topics: Dow Jones inflation data Nasdaq Composite oil prices S&P 500 stock market Treasury yields