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Benzinga
Benzinga
Business
Piero Cingari

Oil Crashes 8%, Chip Rout Weighs on Nasdaq 100: Stock Market Today

Oil Magnificent Seven MU US Federal Reserve ETF Iran Amkor Technology Inc BitMine Immersion Technologies Inc BMNR crude oil
Nasdaq 100 way down

Crude oil cratered as much as 8% on Monday after Washington paused its strike campaign against Iran, but a brutal sell-off in semiconductors wiped out Wall Street’s early relief rally, leaving the major averages mixed ahead of Wednesday’s Federal Reserve decision and a wave of Magnificent Seven earnings.

“Iran wants to meet and we’re meeting. There’s a chance we can make a deal with Iran,” President Donald Trump told reporters aboard Air Force One at about 12:25 p.m. ET.

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