Stocks fall, oil rises amid U.S.-Iran uncertainty

Summary

U.S. stocks fell and oil prices rose Wednesday as investors tracked U.S.-Iran talks, Middle East tensions, and fresh jobs data.

Why this matters

The moves showed how geopolitical developments and energy prices can quickly influence markets. The ADP jobs data also offered an early signal ahead of Friday’s nonfarm payrolls report.

U.S. stocks fell Wednesday as Wall Street weighed uncertainty around U.S.-Iran talks against continued enthusiasm for artificial intelligence.

The Dow Jones Industrial Average (^DJI) fell 0.8%, the S&P 500 (^GSPC) slipped about 0.7%, and the Nasdaq Composite (^IXIC) declined 1%. The losses followed record highs for stocks on Tuesday.

Oil prices rose Wednesday as strains on the ceasefire increased, particularly after reports of Iranian strikes against Kuwait and Bahrain and U.S. strikes on Iran’s Qeshm Island. U.S. West Texas Intermediate crude (CL=F) traded above $95 a barrel, while Brent crude (BZ=F) hovered around $97 at the opening bell.

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