Dow Tumbles 1..6% on Blue‑Chip Selloff, Oil Surges Amid Middle East Tensions
Economy / Finance

Dow Tumbles 1..6% on Blue‑Chip Selloff, Oil Surges Amid Middle East Tensions

On Thursday the U.S. markets turned sharply lower, and the blue‑chip stocks were hit especially hard. The Dow Jones Industrial Average ended the day at 47,955 points, down 1.6 %. The Nasdaq’s 100‑stock index slipped even less, closing 0.3 % lower at 25,020 points. The broader S&P 500 finished 6,831 points, a decline of 0.6 %.

Meanwhile, oil prices increased amid the Middle East crisis. A barrel of Brent crude fetched $84.28 at about 10:22 PM German time, a rise of 3.5 % from the previous day’s close.

Gold, on the other hand, retreated. One troy ounce sold for $5,079, a drop of 1.2 %, which translates to roughly €140.70 per gram.

The euro weakened on the trading day: one euro traded at $1.1607, meaning the dollar was worth about €0.8615.