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Barchart
Barchart
Rich Asplund

Broader Market Settles Lower on Soaring Crude Prices and Chipmaker Weakness

Oil United States US Federal Reserve Nasdaq Alberto Musalem Christopher Waller Donald Trump ECB Inflation Iran

The S&P 500 Index ($SPX) (SPY) closed down by -0.47% on Thursday, the Dow Jones Industrial Average ($DOWI) (DIA) closed up by +0.10%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -1.39%. December E-mini S&P futures (ESZ26) fell -0.41%, and December E-mini Nasdaq futures (NQZ26) fell -1.31%.

Stock indexes settled mixed on Thursday as a surge in crude oil raised inflation risks, dampened market sentiment, and weighed on the broader market. WTI crude oil rose more than +3% on Thursday after a report said the US could escalate the war in Iran before next month's midterm elections.

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