Stocks slide and oil prices climb as Iran says it could counter ground invasion
NBC News
U.S. stocks slid Thursday and the price of oil continued to climb amid ongoing conflict in the Middle East
U.S. stocks slid Thursday and the price of oil continued to climb amid ongoing conflict in the Middle East.
After a relatively calm trading session on Wednesday, the price of U.S. crude oil shot higher by more than 8% on Thursday, briefly rising as high as $82 per barrel. Since Sunday, the price of U.S. crude oil has risen 20% to its highest level since July 2024.
The international oil benchmark also rose 4%.
Stocks resumed a sell-off that started earlier in the week. At the closing bell, the S&P 500 was down 0.6% and the Nasdaq composite was lower by 0.3%. The Dow Jones Industrial Average fell more 1,000 points at one point in the late afternoon but closed lower by 785 points or 1.6%.
Energy stocks were the best performing S&P 500 sector, while the consumer staples, materials, and industrials sectors were the biggest losers.
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