Dow Jones Today: Index Slides Again as Oil Tops $119 and Fed Cut Hopes Fade
The Dow Jones fell 427.99 points, or 0.92%, to 45,797.70 by midday Thursday as oil prices surged after Iranian strikes on Gulf energy sites. The S&P 500 and Nasdaq also dropped, while the Russell 2000 briefly entered correction territory. Fed officials signaled only one rate cut this year, prompting traders and banks to delay expectations for further easing. Brent crude peaked at $119.13 a barrel.