Oil prices soar, and stocks end mixed in volatile trade
Oil prices surged nearly 8% and US crude soared over 11% after US President Donald Trump's remarks on Iran. Global equities markets were mixed in volatile trade, with some major Wall Street indexes and US bond prices clawing back gains.
Oil prices rose sharply due to concerns over the Iran conflict. US President Donald Trump said the US would hit Iran hard in the coming weeks. Global markets were volatile, with European shares trimming losses and US stocks ending mixed. The Dow Jones Industrial Average fell 0.13%, while the S&P 500 gained 0.11%. Oil prices jumped, with Brent futures up 7.78% and US West Texas Intermediate up 11.41%. The US dollar gained, and government bond yields rose on expectations of inflation and interest rate hikes.
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