Dow Jones moves as oil climbs and rate hike bets rise
The Dow is taking its hit as traders question if blue-chip stocks were set for too easy a run on inflation. U.S.-Iran tensions and higher oil prices kicked things off, but it’s the domino effect that matters: crude up, yields up, Fed hike bets rising, and then big Dow cyclical names are first to get sold. Reuters had the Dow off 514 points at 10:10 a.m. ET. Other quotes had losses nearer to 800 points before the day hit noon.