Asian markets skid as Brent crude trades near $100
Global stock markets are experiencing volatility as oil prices fluctuate amid escalating tensions in the Middle East. Major U.S. indexes are heading for a losing week as investors react to the potential for supply chain disruptions.
Why it matters
Geopolitical instability in the Middle East directly impacts global energy prices and investor confidence, affecting retirement accounts and economic stability.
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NEW YORK (AP) — Stocks gained ground Friday as oil prices slipped for the first time in a week, but Wall Street is still heading for a losing week.
The S&P 500 rose 0.4%. The index is still on track for its second consecutive losing week, which hasn’t happened since March.
The Dow Jones Industrial Average rose 296 points, or 0.6%, as of 12:47 p.m. Eastern time. The Nasdaq slipped 0.1% and was kept in check by sharp losses from several big stocks. Both indexes are also on track for weekly losses.
Micron Technology fell 5.3% and Broadcom fell 1.9%. Both companies have large market values that tend to weigh more heavily on the market. They were big reasons for the technology-heavy Nasdaq lagging other indexes.
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