Markets And Exchanges News

Tech rout drags Nasdaq lower as oil spikes on Middle East tensions

U.S. stocks fell as a tech-led selloff hit major indexes after Alphabet and Tesla posted results, with the Nasdaq down more than 2% and the Dow and S&P 500 also lower; oil climbed above $100 amid Middle East tensions and tanker attacks, lifting energy names and fueling inflation/rate concerns, while the 10-year yield rose. In the data flow, initial jobless claims dropped to 187,000—the lowest since 1969—just as a batch of earnings from Intel, T-Mobile, Lockheed Martin and others loomed on the schedule.