MillerKnoll IncIran ceasefire collapse and oil spike trigger risk-off, hurting MillerKnoll shares.
Shares of MillerKnoll, Interface, and Robert Half fell sharply after President Trump declared the Iran ceasefire over and threatened fresh strikes, sending oil prices soaring and triggering a broad risk-off move. Brent crude jumped 7.5% to $79.65, reviving inflation fears and pushing global bond yields higher, which raised the discount rate on future cash flows for business services firms. The sector, which includes staffing, consulting, and outsourcing companies, is sensitive to economic growth expectations and tends to decline when geopolitical uncertainty clouds the outlook. MillerKnoll dropped 5.3%, Interface fell 5.1%, and Robert Half lost 4.9% in the morning session.
MillerKnoll IncIran ceasefire collapse and oil spike trigger risk-off, hurting MillerKnoll shares.
Robert Half International IncGeopolitical uncertainty and higher discount rates weigh on Robert Half's growth-sensitive business.
Interface IncInterface falls as oil spike and geopolitical risk dampen economic outlook.