The Dow marked another triple-digit drop on Thursday, earlier gapping to its lowest level since November. The S&P 500 and Nasdaq settled lower as well, though the former cut earlier losses in half. Oil prices took a breather after Israeli Prime Minister Benjamin Netanyahu said Israel is helping the U.S. reopen the Strait of Hormuz, and that Iran lost the ability to enrich uranium to make ballistic missiles. Tech sector weakness in light of Micron Technology's (MU) report also contributed to today's struggles.
Gold Prices Keep Sliding Amid Profit-Taking
Though oil prices settled higher following attacks on energy infrastructure in Iran and Qatar, they eased as the U.S. weighed lifting sanctions on Iranian oil at sea and releasing more oil from its strategic reserves. April-dated West Texas Intermediate (WTI) crude added 4.6% to finish at $96.70 per barrel.
Gold prices finished lower, with investors taking profits as they grappled with inflation and U.S.-Iran war concerns. April-dated gold futures shed 6% to finish at roughly $4,600 an ounce.
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