Wednesday, 16 October 2019
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Dow Snaps Eight-Day Winning Streak After Saudi Oil Attack
Tuesday, 17 September 2019 03:21 WIB | MARKET UPDATE |DOW JONESS & P 500Saham AS

U.S. stocks ended lower on Monday after investors were rattled by a drone strike on Saudi Arabian oil facilities over the weekend.

The S&P 500 fell 0.3% to end around 2,998. The Dow Jones Industrial Average shed 143 points, or 0.5%, to end near 27,077, based on preliminary numbers. The Nasdaq Composite was down 0.3% to finish around 8,154.

The drone attack underlined the vulnerability of major oil producers in the Middle East, renewing geopolitical fears over the region.

Fears of tightening supplies sent values for crude surging. U.S. crude prices rose by more than 14% to settle at $62.90 a barrel on Monday, marking its biggest daily gain since Sept. 2008.

Investors also raised concerns that the U.S. may escalate its current conflict with Iran over the attack.

Source : Market Watch

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