Dow Jones Today: Dow Falls More Than 400 Points as Oil Shock Blunts CPI Relief
The Dow Jones fell 418 points, or 0.88%, to 47,288.28 by late morning Wednesday as investors focused on rising oil prices and risks from the U.S.-Israeli war with Iran. February CPI matched forecasts but did not reflect recent 20% gasoline price jumps. The International Energy Agency released 400 million barrels from reserves, but attacks in the Strait of Hormuz kept supply concerns high. Oracle shares rose 12% after its revenue outlook.