West Texas Intermediate tumbled as much as 19% after Trump agreed to suspend bombing on Iran in a move that will help resume oil flows through the Strait of Hormuz
Asian shares opened higher with the MSCI Asia Pacific Index climbing 0.7% on the back of gains in South Korea
US futures slid while a gauge of Asia Pacific shares extended losses to as much as 1.7% shortly after Trump’s speech commenced
On Tuesday, the fund rallied 8% after President Donald Trump again signaled a potential end to the Iran war.
A Goldman Sachs Group Inc. basket of the 50 most-shorted stocks soared 7.1% for its second-biggest rally in almost a year, and more than twice the gain of the S&P 500 Index.
Brent crude futures for May rose over 1% after Wall Street Journal reported that Trump is willing to end the conflict.
Although Wall Street remains optimistic that it will emerge as a long-term winner from AI, Microsoft still has to keep up with the hyperscaler spending race, a posture that could complicate any near-term sentiment reversal.
The S&P 500 Index dropped 0.6% as of 9:45 a.m. in New York, on course for its fifth weekly decline, the longest streak since 2022.
The latest sell-off marks a notable acceleration from the previous week’s $1 billion outflow, taking the cumulative 16-week outflows to $25.5 billion
The bad news for bulls: It signals a long way down before the index finds major support.
Equities fell around the world, driving the S&P 500 down about 1%. Brent climbed to around $107.
President Donald Trump has been pushing for talks with Iran in a bid to halt the fighting
Companies like Sandisk Corp., Western Digital Corp., and Seagate Technology Holdings Plc are among the leaders in the S&P 500 Index in 2026
Without any signs the conflict in the Middle East is abating, the S&P 500 extended this month’s decline
According to data from Polymarket, the probability of the US entering a recession in 2026 has climbed to 36%
The S&P 500 fell about 1%, set for its the longest weekly slide in a year.
The yield on two-year Treasuries climbed as much as 18 basis points to 3.95% before paring the move
As traders moved away from the riskier corners of the market, the S&P 500 halted a two-day gain. Brent hovered near $110.
While traffic through Hormuz remains at a near-standstill amid the Iran war, US crude fell to around $95 as a trickle of vessels started to find a way through the oil route
The S&P 500 erased a nearly 1% advance as the Wall Street Journal reported the Pentagon is moving a Marine expeditionary unit to the Middle East, with Iran stepping up its attacks on the Strait of Hormuz
A Goldman Sachs software basket is trading for 22 times forward earnings, compared with 21 for the S&P 500 Index.
The S&P 500 wiped out losses as US crude tumbled to $83 after the Group of Seven nations tasked the International Energy Agency with studying the volumes that could be released
Investor jitters over soaring energy prices meant a wave of global stock and bond market selling which hung over the Wall Street open
Earlier in the session, US index futures had fallen more sharply before recovering slightly after reports that Group of Seven (G7) finance ministers may discuss a coordinated release of emergency oil reserves, which helped ease some pressure in energy markets.
The sharp fall in the Wall Street index futures today followed fresh US and Israeli strikes on Iran over the weekend and retaliatory missile attacks by Tehran, raising fears that the conflict could broaden and disrupt energy supplies.