- US stocks inched lower Tuesday following the Memorial Day weekend and last week's rally.
Oil surged to a two-month high of $123 as the European Union announced a partial Russian oil embargo.
US stocks were lower on Tuesday, losing steam after last week's rally as rising oil prices stoked renewed inflation fears among investors.
Oil surged to a two-month high of $123 Tuesday after the European Union agreed to ban most Russian
The jump comes as US
Here's where US indexes stood as the market opened 9:30 a.m. on Tuesday:
- S&P 500: 4,143.25, down 0.36%
- Dow Jones Industrial Average: 32,987.17, down 0.68% ( 225.79 points )
- Nasdaq Composite: 12,128.98, down 0.02%
Tesla short sellers have made $8.2 billion betting against Elon Musk's company this year amid the
The ongoing selloff won't end soon, "Shark Tank" investor Robert Jerjavec warned. He forecasted that stocks could plunge another 30%, and added that the market is gripped by fear and doubt.
Meanwhile, the IEA chief sounded the alarm on summer fuel shortages, and that a triple
In crypto, Terra revived the failed luna token following its major meltdown — but it fell sharply after its launch.
Overseas, yuan-ruble trading has surged more than 1,000% as China and Russia draw closer to counter the US. The jump in trading between the two currencies is a sign that the nations are looking to strengthen their ties as they look to limit the power of the US.
Oil moved higher, with West Texas Intermediate up 2.97% to $118.49 a barrel. Brent crude, the international benchmark, moved up 1.46% to $123.45 a barrel.
Gold edged lower 0.31% to 1,845.60 per ounce. The 10-year Treasury yield rose 9.3 basis points to 2.842%.
Bitcoin climbed 3.29% to $31.683.70.