Dow Posts Another Triple-Digit Loss, Nasdaq Turns Lower
Complete. Here is the key summaryUS stocks extended losses with the Dow dropping 305 points for a third consecutive triple-digit decline, while the Nasdaq turned negative due to late selling. The S&P 500 also posted modest losses, weighed down by Apple. Amidst Middle East tensions, oil prices rose as WTI crude settled at $83.23 per barrel, and crypto stocks rallied alongside Bitcoin. Gold futures dipped slightly.
Stocks finished Monday's session lower, extending last week's losses. Though chipmakers stabilized, the Nasdaq erased its earlier gains to finish in the red after slipping lower in the final half hour of trading. The S&P 500 also logged a modest loss, while Apple (AAPL) weighed on the Dow, which fell 305 points for its third-consecutive triple-digit drop. Meanwhile, investors continued to monitor tensions in the Middle East, while crypto stocks rallied alongside Bitcoin (BTC).
Oil Prices Extend Climb Amid Iran Tensions
Oil prices continued higher after last week's surge, as U.S.-Iran tensions continued to ramp up. August-dated West Texas Intermediate (WTI) crude rose 0.9% to settle at $83.23 per barrel.
August-dated gold futures inched lower as investors weighed rate-hike potential. The precious metal fell 0.1% to finish at $4,015.90 per ounce.