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The price of crude oil is rising again following Houthi claims of attacks on tankers in the Red Sea. What could it mean for gas prices, inflation and the global economy?
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The S&P 500 tumbled more than 1 percent, while the tech-heavy Nasdaq Composite sank more than 2 percent.
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US House votes to limit Iran war for first time since ceasefire breakdown Al JazeeraUS House passes war powers resolution directing Trump to end Iran conflict The GuardianTracking Trump: House votes to stop Iran war; Trump demands Saudi Arabia normalize Israel relations; oil prices leap; and more The Washington PostHouse votes to end Iran war, but Senate Republicans vote to let Trump continue waging it NBC News
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Alphabet's cash burn raises alarm for Big Tech as AI spending climbs ReutersGoogle's extreme AI capex spending plans trigger a technical warning on the stock price Yahoo FinanceGoogle just had its first negative cash flow quarter ever due to massive AI spending Ars TechnicaThe Metric Spooking Investors in Tesla's and Google's Earnings WSJ
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The recent rebound reflects traders' growing concern about the expanding war, which now extends from the Persian Gulf to the Red Sea.
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Oil prices leap to $100 a barrel after attacks in Red Sea The Washington PostLive updates: Oil tops $100 a barrel as Red Sea attacks mark new escalation in Iran conflict CNNBrent crude crosses $100 after tankers reportedly struck off Saudi Arabia CNBCStocks Fall on AI Jitters as Oil Lifts Bond Yields: Markets Wrap Bloomberg.comE
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The different price action between artificial-intelligence hyperscalers and chip and infrastructure stocks is a throwback to a setup in the late 1990s, argues JPMorgan.
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