- Djokovic hails Nadal 'legacy' as Alcaraz in 'shock' over retirement
- Obama hits campaign trail for Harris
- Delta eyes Election Day travel pullback as profits climb
- Djokovic tells Nadal: 'Your legacy will live forever'
- Ethel Kennedy, wife of RFK, dead at 96
- Zelensky denies ceasefire with Russia under discussion on trip
- Florida battered by hurricane, floods but spared 'worst-case scenario'
- After long fight for glory, Nadal leaves with a legacy of memories
- Home hopes Zheng and Wang through to last-eight in Wuhan Open
- UN peacekeepers say Israel fired on Lebanon HQ, injuring 2
- UK's William and Kate in first joint public engagement since cancer treatment
- Alcaraz out as top players pay tribute to Nadal at Shanghai Masters
- Racing's Farrell 'not thinking' about British and Irish Lions
- Alcaraz, Sinner pay tribute to 'unbelievable' Nadal at Shanghai Masters
- Over 200 women in legal talks with Harrods over Fayed abuse claims
- After K-pop, K-novels? South Korean Nobel win sparks joy, hope at home
- After Nadal exit, Djokovic left to rage against dying of the light
- A very stiff breeze: BBC says sorry for 20,000 kph wind forecast
- Triple centurion Brook happy to break Dad's club record
- Zelensky touts 'victory plan' against Russia in Macron talks
- Musk finally unveiling his long-promised robotaxi
- UN peacekeepers accuses Israel of firing on Lebanon HQ
- London's Frieze art fair goes potty for ceramics
- Southgate taking year out from coaching
- US, Europe stocks fall on US inflation data
- Zelensky meets Macron in Paris as part of European tour
- Hurricane Milton shreds Florida stadium roof
- UN probe accuses Israel of seeking to 'destroy' Gaza healthcare
- US consumer inflation eases to 2.4% in September
- England in sight of victory after Brook's triple hundred
- Juventus readmitted to ECA after failed Super League revolt
- World number 2 Alcaraz knocked out of Shanghai Masters by Machac
- Leaders of Egypt, Eritrea, Somalia meet amid regional tensions
- Klopp's Red Bull decision 'ruined life's work' say Dortmund fans
- Han Kang wins South Korea's first literature Nobel
- S. Korea's Nobel winner Han Kang a modest, thought-provoking writer
- Hurricane Milton tornadoes kill four in Florida amid rescue efforts
- The almost impossible job: Beating Rafael Nadal at the French Open
- New French government faces key test with budget plan
- Rescuers say Israeli strike on Gaza school kills 28
- Italy's ex-world champion gymnast Ferrari announces retirement
- Zelensky talks 'victory plan' in meeting with Starmer, Rutte
- South Korea's Han Kang wins literature Nobel
- Federer lauds retiring Nadal's 'incredible achievements'
- Ikea posts fall in annual sales after lowering prices
- Australia beat China 3-1 to resurrect World Cup campaign
- Stock markets diverge, oil gains after China rebounds
- Nadal defied injury woes in record-breaking career
- Nadal v Djokovic, French Open, 2006: Chapter One in epic rivalry
- World can't 'waste time' trading climate change blame: COP29 hosts
CMSC | 0.16% | 24.56 | $ | |
NGG | 0.21% | 65.765 | $ | |
BTI | -0.68% | 35.24 | $ | |
RYCEF | 0% | 6.9 | $ | |
BP | 1.05% | 32.32 | $ | |
RELX | -0.61% | 46.425 | $ | |
AZN | -0.94% | 76.785 | $ | |
GSK | -2.61% | 39.215 | $ | |
RIO | 0.13% | 66.435 | $ | |
RBGPF | 4.03% | 63.35 | $ | |
SCS | -3.49% | 12.59 | $ | |
BCC | -1.69% | 140.02 | $ | |
CMSD | 0.08% | 24.7 | $ | |
JRI | -0.05% | 13.214 | $ | |
VOD | -0.46% | 9.685 | $ | |
BCE | -1.54% | 32.805 | $ |
US stocks fall, oil prices jump on Middle East tensions
Wall Street equities tumbled while Brent oil prices finished above $90 a barrel for the first time since late October as markets took stock of rising political tensions in the Middle East.
After an upbeat morning that saw US stocks rebound, major indices plunged into the red in afternoon trading, finishing sharply lower.
The Dow Jones Industrial Average ended down 1.4 percent at 38,596.98, a drop of about 825 points from its session peak.
That came amid another jump in crude prices, in a market that has found itself "very nervous" about the Middle East, said John Kilduff of Again Capital.
"The market continues to sort out whether or not there is going to be an Iranian response to the attack by Israel" earlier this week in Damascus, Kilduff said.
President Joe Biden meanwhile escalated his criticism of Israel's prosecution of its war in Gaza on Thursday, expressing dismay over civilian casualties in a conversation with Israeli Prime Minister Benjamin Netanyahu.
White House National Security Council spokesman John Kirby said the two leaders also discussed a "very public and very viable, real threat by Iran to Israel's security."
Israeli media reported that several Israeli embassies have been evacuated following a situation assessment.
For the stock market, the rising geopolitical worries come in the context of a "market that's been looking for a reason to sell off" following a strong first quarter, said Art Hogan of B. Riley Financial.
Losses were broad-based with all 11 sectors of the S&P 500 in the red.
An exception was defense-related stocks such as Lockheed Martin, General Dynamics and Northrop Grumman, which advanced.
Earlier, Frankfurt and London ticked higher and Paris ended the day flat, following a mixed performance in Asia and with Hong Kong and Shanghai shut for holidays.
Gold struck another record peak at $2,304.96 per ounce in Asia, extending its blistering run before pulling back.
Wall Street stocks had opened benignly, with traders pointing to policy remarks Wednesday that signaled the US central bank was still open to interest rate cuts this year.
Friday's focus includes the US non-farm payrolls report, a key indicator for the world's biggest economy.
"Friday's employment figures will shed further light on the state of the underlying US economy and could solidify traders' expectations regarding the timing of the first Fed rate cut," added ActivTrades analyst Ricardo Evangelista.
- Key figures around 2030 GMT -
New York - Dow: DOWN 1.4 percent at 38,596.98 (close)
New York - S&P 500: DOWN 1.2 percent at 5,147.21 (close)
New York - Nasdaq Composite: DOWN 1.4 percent at 16,049.08 (close)
London - FTSE 100: UP 0.5 percent at 7,975.89 (close)
Paris - CAC 40: FLAT at 8,151.55 (close)
Frankfurt - DAX: UP 0.2 percent at 18,403.13 (close)
EURO STOXX 50: FLAT at 5,070.76 (close)
Tokyo - Nikkei 225: UP 0.8 percent at 39,773.14 (close)
Hong Kong - Hang Seng Index: Closed for holidays
Shanghai - Composite: Closed for holidays
Dollar/yen: DOWN at 151.22 yen from 151.70 yen on Wednesday
Euro/dollar: DOWN at $1.0840 from $1.0857
Pound/dollar: UP at $1.2641 from $1.2658
Euro/pound: DOWN at 85.73 pence from 85.76 pence
Brent North Sea Crude: UP 1.5 percent at $90.65 per barrel
West Texas Intermediate: UP 1.4 percent at $85.59 per barrel
burs-jmb/nro
A.Jones--AMWN