S&P 500 Extends Losses as Brent Tops $115 on Middle East Supply Fears
Updated
Updated · Bloomberg · Oct 23
S&P 500 Extends Losses as Brent Tops $115 on Middle East Supply Fears
2 articles · Updated · Bloomberg · Oct 23
Summary
Brent crude rose above $115, dragging stocks and bonds lower as investors revived inflation worries just days before the Federal Reserve's rate decision.
The S&P 500 logged a second straight loss, even as pressure on technology shares eased and a chipmaker gauge rebounded from the prior session's sell-off.
Treasury yields edged higher after bonds had posted their best day in more than a year, showing the oil surge quickly capped demand for rate-sensitive assets.
The move adds a new inflation shock to a market already unsettled by AI-trade doubts, rising financing costs and recent weakness in semiconductors and Big Tech.