U.S.-Iran Strikes Send Oil Surging, Stocks Lower as Rate Hike Odds Jump
IXIC sits 27% above its 52-week low of $20,690.249 on light trading volume (0.3× avg).
Summary
U.S. stocks are broadly lower Monday after weekend military strikes between the U.S. and Iran pushed crude oil up more than 2%, reigniting inflation worries. The Nasdaq is down 0.4% at 26,297.59, off its session lows but still firmly negative. Fed rate hike odds for next month jumped to 63.9% following Chairman Warsh's hawkish remarks, and the 10-year Treasury yield hit its highest level in over a year. Airline stocks are down sharply on fuel costs, while energy shares gain. Traders are cautious ahead of Friday's jobs report.
At the time of this announcement, IXIC was trading at $26,297.94 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,190.21. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: dpa-AFX.