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Market Commentary - Foreign Markets
Soaring crude prices pressure Wall Street
02-Sep-2026, 01:53
US stocks fell as crude oil prices increased due to heightened tensions in the Middle East. The U.S. military conducted strikes on Iranian targets after Iran attacked commercial ships and fired missiles at American bases. Brent crude futures rose 4% to over $94 a barrel, affecting bonds and stocks. The Dow Jones Industrial Average dropped 419.02 points (0.79%) to 52,766.88, the S&P 500 fell 0.71% to 7,631.47, and the Nasdaq Composite declined 1.03% to 26,099.77.
US stocks fell as crude oil prices increased due to heightened tensions in the Middle East. The U.S. military conducted strikes on Iranian targets after Iran attacked commercial ships and fired missiles at American bases. Brent crude futures rose 4% to over $94 a barrel, affecting bonds and stocks. The Dow Jones Industrial Average dropped 419.02 points (0.79%) to 52,766.88, the S&P 500 fell 0.71% to 7,631.47, and the Nasdaq Composite declined 1.03% to 26,099.77.