Energy Markets
Oil prices spike, Wall Street falls as tensions between the US and Iran increase
Late on Tuesday, oil prices spiked on renewed fears of a fragile peace between the U.S. Stocks fell on investor concerns about the?longevity of the AI rally. The Nasdaq Composite, which is heavily tech-heavy, suffered the biggest decline of 1.16%, to 25,818.69. The Dow Jones Industrial Average fell 0.25%, to 52,925.15. And the S&P 500 declined 0.45% to 7,503.85. MSCI's global index of stocks fell by 0.64%, to 1,121.20. The selloff started after Samsung Electronics's blockbuster results, despite the fact that the company forecasted a 19-fold increase in operating profit from April to June at 89.4 trillion dollars ($58.4 billion),...