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\n\t\t\t\t\tCher\u2019s son, Elijah Blue Allman, arrested for 2nd time in 3 days<\/span>\n\t\t\t<\/p>\n<\/p><\/div>\n<\/li>\n\n\n\t\t\t\t\t\t
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\n\t\t\t\t\tMuslim mothers barred from volunteering at Quebec schools over hijabs<\/span>\n\t\t\t<\/p>\n<\/p><\/div>\n<\/li>\n<\/ul>\n<\/section>\n\n
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The S&P 500 is down only 0.7% for the week so far, despite its sharp swings, as gains for Big Tech stocks and oil producers have helped to blunt losses across the rest of the market.<\/p>\n
Stocks of airlines fell to some of the U.S. market\u2019s worst losses again on Thursday. Higher oil prices are increasing their already big fuel bills, while the war has left hundreds of thousands of passengers stranded across the Middle East.<\/p>\n
American Airlines lost 5.4%, United Airlines fell 5% and Delta Air Lines sank 3.9%.<\/p>\n
Stocks of smaller companies, meanwhile, took heavy hits. That\u2019s typical when worries are growing about the strength of the economy and about interest rates rising. The Russell 2000 index of the smallest stocks fell a market-leading 1.9%.<\/p>\n
Wall Street\u2019s drop would have been worse if not for Broadcom. The chip company\u2019s stock rose 4.8% after it reported stronger profit and revenue for the latest quarter than analysts expected. It\u2019s one of Wall Street\u2019s most influential stocks because it\u2019s one of the biggest by total value, and CEO Hock Tan said it benefited from a 74% jump in revenue for AI chips.<\/p>\n
All told, the S&P 500 fell 38.79 points to 6,830.71. The Dow Jones Industrial Average dropped 784.67 to 47,954.74, and the Nasdaq composite slipped 58.50 to 22,748.99.<\/p>\n
In the bond market, Treasury yields climbed as rising oil prices put more upward pressure on inflation, which could keep the Federal Reserve from cutting interest rates.<\/p>\n
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The yield on the 10-year Treasury rose to 4.13% from 4.09% late Wednesday and from just 3.97% before the war with Iran started.<\/p>\n
The Fed could keep interest rates high to keep a lid on inflation. But high interest rates would also keep it more expensive for U.S. households and companies to borrow money, which would grind down on the economy.<\/p>\n
The central bank had indicated it planned to resume its cuts to interest rates later this year, in hopes of giving a boost to the job market and economy. Because of the war and higher oil prices, traders have pushed their forecasts further into the summer for when the Fed could begin cutting rates again.<\/p>\n
In stock markets abroad, indexes rebounded in Asia following historic losses the day before. South Korea\u2019s Kospi soared 9.6% to recover much of its 12.1% plunge from Wednesday, which was its worst drop ever.<\/p>\n
But indexes fell in Europe as oil prices began to accelerate. France\u2019s CAC 40 fell 1.5%, and Germany\u2019s DAX lost 1.6%.<\/p>\n
AP Writers Kim Tong-hyung and Elaine Kurtenbach contributed. Additional files from Reuters.<\/em><\/p>\n<\/p><\/div>\n\n
\n\t\t© 2026 The Canadian Press\t<\/p>\n<\/div>\n
#Oil #prices #top #US81 #barrel #Iran #war #pushing #global #markets<\/p>\n","protected":false},"excerpt":{"rendered":"
Stocks sank on Wall Street Thursday after the price of oil spiked to its highest level since the summer of 2024 because of the war with Iran. The S&P 500 fell 0.6% and erased what had been a small gain for the year so far. The Dow Jones Industrial Average briefly dropped more than 1,100 […]<\/p>\n","protected":false},"author":1,"featured_media":3991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[8],"tags":[3949,39,363,613,285,17,503,502,1024,3950,1281,52,3948,96,135],"class_list":{"0":"post-3990","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-politics","8":"tag-barrel","9":"tag-economy","10":"tag-global","11":"tag-iran","12":"tag-markets","13":"tag-money","14":"tag-oil","15":"tag-oil-prices","16":"tag-prices","17":"tag-pushing","18":"tag-stock-market","19":"tag-top","20":"tag-us81","21":"tag-war","22":"tag-world"},"_links":{"self":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts\/3990","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=3990"}],"version-history":[{"count":0,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/posts\/3990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=\/wp\/v2\/media\/3991"}],"wp:attachment":[{"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=3990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=3990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.worldpumpnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=3990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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