Dow drops 1,000 points As Oil Prices Climb More

[0311]

NEW YORK (AP) — Stocks are falling sharply on Wall Street Thursday, including a 1,000-point slump for the Dow Jones Industrial Average, as oil prices rise further because of the war with Iran.

Dow drops 1,000 points as oil prices climb more - WTOP News

Stocks are falling sharply on Wall Street as oil prices rise further because of the war with Iran.

wtop.com

The S&P 500 sank 1.3% in afternoon trading, coming off a frenetic start to the week that saw financial markets swerve sharply, sometimes hour by hour. The Dow tumbled 1,046 points, or 2.1%, as of 2:04 p.m. Eastern time, and the Nasdaq composite was 1.1% lower.

Financial markets are again following the cue of oil prices. They’re cranking up the pressure because of worries that a long-term spike could exhaust households’ ability to spend, grind down the global economy and push interest rates higher.

A barrel of Brent crude, the international standard, rose 4.7% to $85.22 That’s up from close to $70 late last week. A barrel of benchmark U.S. crude climbed 8.1% to $80.67. U.S. crude last traded above $80 in August 2024.

Iran has closed the Straits of Hormuz. One fifth of the world's oil is brought the Straits of Hormuz. Price per barre;; is going up , as will the price of gas. Iran closed the Straits during the Iran/Iraq War. Prices will increase at sores as well due the closure. Thanks Trump.

 

[1srelluc]

It finally hit my AO this morning.....$3.00 average....Up about .35 cents a gallon.

Worth every penny to see Iran getting it's shit pushed in.

 

[Zincwarrior]

It finally hit my AO this morning.....$3.00 average....Up about .35 cents a gallon.

Worth every penny to see Iran getting it's shit pushed in.

If the Strait stays closed it will be much worse than that. Production is shutting down in most of the ME because they can't ship the oil and have hit storage capacity limits.

 

[1srelluc]

If the Strait stays closed it will be much worse than that. Production is shutting down in most of the ME because they can't ship the oil and have hit storage capacity limits.

And?

Part and parcel of Iran getting it's shit pushed in.

 

[Zincwarrior]

And?

Part and parcel of Iran getting it's shit pushed in.

And $120 - $150 barrel will drive the economy into the ditch.

 

[Deplorable Yankee]

NEW YORK (AP) — Stocks are falling sharply on Wall Street Thursday, including a 1,000-point slump for the Dow Jones Industrial Average, as oil prices rise further because of the war with Iran.

Dow drops 1,000 points as oil prices climb more - WTOP News

Stocks are falling sharply on Wall Street as oil prices rise further because of the war with Iran.

wtop.com

The S&P 500 sank 1.3% in afternoon trading, coming off a frenetic start to the week that saw financial markets swerve sharply, sometimes hour by hour. The Dow tumbled 1,046 points, or 2.1%, as of 2:04 p.m. Eastern time, and the Nasdaq composite was 1.1% lower.

Financial markets are again following the cue of oil prices. They’re cranking up the pressure because of worries that a long-term spike could exhaust households’ ability to spend, grind down the global economy and push interest rates higher.

A barrel of Brent crude, the international standard, rose 4.7% to $85.22 That’s up from close to $70 late last week. A barrel of benchmark U.S. crude climbed 8.1% to $80.67. U.S. crude last traded above $80 in August 2024.

Iran has closed the Straits of Hormuz. One fifth of the world's oil is brought the Straits of Hormuz. Price per barre;; is going up , as will the price of gas. Iran closed the Straits during the Iran/Iraq War. Prices will increase at sores as well due the closure. Thanks Trump.

We don't rely on too much Middle Eastern oil the Chinese and the Europeans do

 

[1srelluc]

And $120 - $150 barrel will drive the economy into the ditch.

It won't do it any good, that is for sure but it will be temporary in nature.

 

[Zincwarrior]

We don't rely on too much Middle Eastern oil the Chinese and the Europeans do

Brent prices impact WTI prices - supply floats.

 

[Zincwarrior]

It won't do it any good, that is for sure but it will be temporary in nature.

Sure.

 

[1srelluc]

Sure.

You know, I wonder if the regional allied powers should just take the Strait and end the BS for good and all.....Sort of like how the Brits hold Gibraltar.

 

[kevinthrowe]

And the cost of fertilizer climbs
And crops will be fown
Unintended Consequences

 

[Zincwarrior]

You know, I wonder if the regional allied powers should just take the Strait and end the BS for good and all.....Sort of like the Brits hold Gibraltar.

ONe issue is that the Iranians can bomb throughout the Strait with cheap Shaheds. I guess the concept of deep protected pipelines was too much for those Gulf states. . .

 

[0311]

We don't rely on too much Middle Eastern oil the Chinese and the Europeans do

This means the world-wide cost of oil by the barrel will increase. As will the gas by gallon increase. Also the cost of imported foods will increase as shortages begin. This can cause World Wide Inflation. You to look beyond end of your nose. This huge implications entire world.

 

[Ringo]

 

[sealybobo]

It finally hit my AO this morning.....$3.00 average....Up about .35 cents a gallon.

Worth every penny to see Iran getting it's shit pushed in.

Too bad it wasn't worth every penny to see more Americans have healthcare.

 

[1srelluc]

Too bad it wasn't worth every penny to see more Americans have healthcare.

I have health insurance.

 

[Ringo]

Worth every penny to see Iran getting it's shit pushed in.

Why such hatred? Because Iran took american hostages during the anti-Shah revolution? That was 45 years ago.
It's as if the USSR, which suffered immeasurably more at the hands of the germans, decided 45 years later, in 1991, to suddenly bomb Germany...
And he could find many more reasons for this than the US has for bombing Iran.

 

[sealybobo]

This means the world-wide cost of oil by the barrel will increase. As will the gas by gallon increase. Also the cost of imported foods will increase as shortages begin. This can cause World Wide Inflation. You to look beyond end of your nose. This huge implications entire world.

Inflation, Uncertainty And Fear: Economists Offer Grim Warnings Over Donald Trump’s Iran War​

"There are many stresses on our economy, and this could be the straw that breaks the camel’s back — a straw that becomes heavier the longer the war goes on."

what could happen to inflation, oil prices and other economic indicators if the conflict — which President Donald Trump initially said may last four weeks but now admits could run much longer — drags on.

And so then you get more inflation, you get the potential for higher interest rates, you get the uncertainty and the fear of what could happen. And yeah, all that is really bad for the stock market. The stock market’s reaction so far has actually been quite muted. It was down about 1% yesterday. It looks like it will open about flat today. That’s a pretty benign reaction, given everything that could have happened. But the potential for a much bigger stock market disruption is certainly right there if this war were to widen out, or if something unexpectedly bad were to happen to us, to our troops, to the whole Middle Eastern situation.

He noted that Trump’s tariffs — “and the huge uncertainty they create for the future” — and his “draconian anti-immigrant policies and their growing economic drag” are still affecting the economy, along with “widespread concerns about AI — both as a bubble that might burst and as a force driving job losses.”
“Now we’ve added a fresh level of massive uncertainty,” he wrote. “Bear in mind that this isn’t even a war of choice; it’s a war of whim, marked by a near-total lack of planning.”

“One shouldn’t exaggerate the economic fallout from this war,” he added. “But it isn’t occurring in isolation: There are many stresses on our economy, and this could be the straw that breaks the camel’s back — a straw that becomes heavier the longer the war goes on. Furthermore, if Trump is this erratic now, what will he do as the midterms get even closer?”
Read Krugman’s full analysis on Substack.

University of Michigan professor Justin Wolfers also warned about the rise in uncertainty — and suggested the biggest economic impact may not be felt in the United States.
“I’m worried: The U.S. is less oil-dependent than our peers, and so Wall Street has responded far less to the war in Iran than financial markets abroad,” he wrote on X. “When the country calling the shots feels only a small share of the pain, that’s a dangerous asymmetry.”

 

[kevinthrowe]

Don’t forget the Iranian subs

 

[sealybobo]

Don’t forget the Iranian subs

Across the U.S., farmers are struggling. Prices for nearly every major crop are below what it costs to grow them. Farmers in Mississippi are perhaps worse off than farmers in the rest of the country. Rice is one of their biggest crops, and almost no one is buying.