Wall Street Shaken by $100 Oil: Dow Drops, Airlines Slide, Rate-Cut Bets Pushed Out
The Dow fell 0.84% as oil prices swung near $100 after briefly topping $119 on U.S.-Israeli hostilities with Iran. Airlines, cruise operators, and major banks dropped, while chip stocks rebounded, leaving the Nasdaq nearly flat. G7 officials declined to release emergency oil reserves, citing no immediate supply shortfall. The Russell 2000 slid 1.2%, nearing correction territory.