Oil jumps as UAE exits OPEC, while world stocks swing
Global markets were mixed as oil prices surged more than 3% after the UAE said it would exit OPEC, while U.S. stocks pulled back: the S&P 500 fell 0.5%, the Dow slipped 0.1%, and the Nasdaq dropped 0.9%. AI-related names led the declines, with Broadcom, Nvidia and Micron among those lower. Alphabet, Amazon, Microsoft and Meta are due to report earnings, and the dollar rose against the yen as traders eyed the session ahead.