Dow drops 367 points as Brent crude tops $100
US stocks continue to slide as Brent crude sustains its position above $100, driven by escalating US-Iran tensions that have also pushed European natural gas to near three-year highs. With the 10-year Treasury yield stabilizing near 4.8%, investors are now prioritizing inflation risks and geopolitical fallout over quarterly earnings results.
According to GN markets/commodities (en-US), European natural gas prices are nearing 79 euros per megawatt-hour, their highest settlement level since late 2022, while Kara Murphy of Kestra Investment Management notes that market focus has shifted from corporate earnings to geopolitical risk premiums.
Source: GN markets/commodities (en-US)US equities fell sharply Wednesday morning as Brent crude oil surpassed $100 per barrel for the first time since July. The energy price spike has intensified inflation fears and shifted market expectations toward a potential Federal Reserve interest rate hike.
Source: GN auto markets/bonds: treasury yields
