Dow drops 1,000 points As Oil Prices Climb More

[0311]

Iranians have at least Juliet Class Subs and or two Tangos. Both are Soviet Era Diesel Powered, super quiet and very deadly.

 

[TheGreatSatan]

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.

High gas prices help force people onto mass transit and help fight climate change.

Democrats agree right???

 

[kevinthrowe]

High gas prices help force people onto mass transit and help fight climate change.

Democrats agree right???

Why make it a party issue?
High prices hurt lots of people across the spectrum.
High oil prices and pollution help drive one planet one people

 

[candycorn]

Suddenly the DOW doesn't matter to the right wing loons.

 

[SaxonJackson]

And?

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

^^ A reference to Operation Epstein Fury ^^

It's alleged that many of Trump's "redacted" buddies on list are fond of sh*t pushing. Especially when underaged kids are involved.

 

[Hollie]

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

Too bad your illegals won’t have taxpayer funded healthcare.

 

[Captain Caveman]

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.

So let me get this straight, the last administration put a ban on US new offshore oil and gas drilling in over 625 million acres of federal waters. He also cancelled the Keystone XL pipeline. Then Iran has closed the Straits of Hormuz (just like the several hundred times over the decades), and your conclusion is, "Trump you big meanie".

Mods, can you transfer the thread to the humour section pretty please

 

[Captain Caveman]

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

That ole cliché. Never does, the value of money continually rises, very few products have deflation. Blimey, we've had truck protests over the decades how the UK industry will collapse because of fuel prices, especially when a litre of fuel hit £1 a litre. Then with COVID, it briefly hit £2 a litre. Yet here we are £1.44+ per litre and industry still ticking along. Well, it's not ticking along as it should because of the big sack of useless shit in 10 Downing Street.

 

[kevinthrowe]

Suddenly the DOW doesn't matter to the right wing loons.

Whatever is a distraction from the disaster that is Trump.
As with Israel in August of 2023 they are poking the bear to gat a Oct 7
An attack by terrorist on American soil and he declares Marshall law and President for life.

 

[1srelluc]

^^ A reference to Operation Epstein Fury ^^

It's alleged that many of Trump's "redacted" buddies on list are fond of sh*t pushing. Especially when underaged kids are involved.

 

[Woodznutz]

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

Crops will be fown? That's not good.

 

[Luckyone]

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.

DOW tonight 3/8 is trading 900 points lower, with Oil up $16 from Friday's close. The SPX is trading at 6626 and if it gets below 6521, the computers and algorithms will automatically sell and that will make this move down into a "full-blown" correction, with the possibility it may be more.

You can thank Trump's incompetence for this. The bears are loving it!

 

[Matted Joybeard]

High gas prices help force people onto mass transit and help fight climate change.

Democrats agree right???

what mass transit

 

[CrazyTrader55]

Good. We could use a correction and a buying opportunity.

 

[Mac-7]

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

Too bad for the trump/America haters that your wish didnt come true

 

[martybegan]

Iranians have at least Juliet Class Subs and or two Tangos. Both are Soviet Era Diesel Powered, super quiet and very deadly.

50 year old plus technology that probably hasn't been maintained all that well.

 

[Mac-7]

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.”

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.”

Translation: the professor is a lib who wants America to be hurt by high oil prices

 

[kevinthrowe]

Too bad for the trump/America haters that your wish didnt come true

Was at that for hours yesterday
Today climbing back from $89 a barrel
Saudi’s just closed two refineries

 

[Mac-7]

Was at that for hours yesterday
Today climbing back from $89 a barrel
Saudi’s just closed two refineries

Its $89 as of 2 hours ago

 

[Mac-7]

kevinthrowe

The Allies still have work to do

Besides mines there is the drone and anti ship missile threat

Its going to be a problem for a while