Dow drops 900 points as oil surges ahead of Fed rate decision

GeopoliticsMacroCommodity Impact 5
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U.S. stocks fell sharply on Wednesday, with the Dow Jones Industrial Average down more than 900 points, or about 1.7%, as oil prices surged following Iran's surprise missile attack on American forces in the Middle East and markets braced for the Federal Reserve's interest rate decision. West Texas Intermediate crude futures climbed 6.9% to $89.88 a barrel after President Donald Trump pledged the U.S. would strike Iran hard in retaliation, while U.S. Central Command said Islamic Revolutionary Guard Corps forces fired multiple ballistic missiles at American troops, all of which were shot down. The S&P 500 lost 1.1% and the Nasdaq Composite declined roughly 1.4%, with semiconductor stocks continuing to lose ground as the iShares Semiconductor ETF fell more than 4% and the PHLX Semiconductor Index dropped about 4.6%. The Fed is widely expected to hold its benchmark rate steady in the 3.5% to 3.75% target range, though traders put the odds of a hike at roughly one in three, and Fed Chair Kevin Warsh is scheduled to hold a press conference following the decision. Procter & Gamble slid more than 3% after missing revenue estimates, while Ford Motor gained 5% on an earnings beat and raised outlook, and investors also awaited earnings from Meta and Microsoft due after the close.

Impact on stocks 5

Artificial Intelligence▲ · 2 stocks
Electrification & Mobility▲ · 1 stocks
Ford Motor Company
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▲ PositiveCapitalrelevance

Ford Motor gained 5% on an earnings beat and raised outlook.

Consumer Staples▼ · 1 stocks
Spatial Computing / AR/VR▲ · 1 stocks

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