World · Singapore Bureau
Wall Street tumbles as crude surges despite monthly gains
US equities declined as energy prices climbed, though major indices still secured gains for the month. The Dow Jones Industrial Average fell 0.7 per cent to close below 53,200.
LSN Singapore ·
Wall Street finished lower as a jump in oil prices pressured investor sentiment, offsetting earlier strength in the broader market. The Dow Jones Industrial Average slipped 374.09 points, or 0.7 per cent, to 53,185.90, extending weakness across the session. The decline came despite solid monthly performance for the major US indices, which notched gains for the period.
Rising crude oil prices weighed on equities, particularly energy-sensitive sectors, as traders grappled with concerns about inflation and economic growth. The sharp movement in commodity markets reflected broader volatility in global energy demand and geopolitical considerations affecting supply.
Despite the session's decline, the monthly performance underscored resilience in US markets amid mixed economic signals. Investors remained cautious about the trajectory of interest rates and their implications for corporate earnings in coming quarters.