Dow Jones Today: Why the Index Is Slipping as Oil Jumps and Fed Cut Hopes Fade
The Dow Jones Industrial Average fell 202.81 points, or 0.45%, to 46,221.54 by noon Thursday as oil prices surged and traders reacted to mixed U.S.-Iran signals on ending the war. Brent crude jumped $5.26 to $107.48 a barrel, reviving inflation concerns and erasing bets on Federal Reserve rate cuts this year. The S&P 500 lost 0.77% and the Nasdaq dropped 1.05%. New jobless claims rose by 5,000 to 210,000, matching forecasts.