Nasdaq Slips 0.21% as Brent Crude Spikes to $116.72 on Iran Retaliation Threat
IXIC sits 25% above its 52-week low of $20,690.249.
Summary
Brent crude jumped 3.1% to $116.72, its highest since April, after Iran threatened to strike U.S. bases plus Gulf airports, pipelines and civilian targets if air strikes resume. That oil shock pushed the Dow down 652.82 points (1.23%) to 52,215.16 and the S&P 500 down 0.52%, while the Nasdaq Composite held up better, slipping just 53.52 points (0.21%) to 25,955.34 as Thursday's AI-stock selloff cooled. Money is rotating into safe havens: consumer staples are up 9.6% this month, on pace for their best month in 26 years, with utilities and health care also leading. Treasury yields rebounded after their biggest one-day drop in over three years, with the 10-year at 4.987%. This extends the pattern from September, when Hormuz strikes and oil above $100 repeatedly dragged the index lower. Watch whether Brent holds above $116 and whether the next inflation print reflects the energy spike.
At the time of this announcement, IXIC was trading at $25,955.34 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,722.75. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.