U.S. stocks slid Thursday and the price of oil continued to climb amid ongoing conflict in the Middle East.
After a relatively calm trading session on Wednesday, the price of U.S. crude oil shot higher by more than 8% on Thursday to almost $81 per barrel. Since Sunday, the price of U.S. crude oil has risen 20% to its highest level since July 2024.
The international oil benchmark also rose nearly 4%.
Stocks resumed a sell-off that started earlier in the week. As of early afternoon trading, the S&P 500 was down 1.2% and the Nasdaq composite was trading lower by 1%. The Dow Jones Industrial Average fell roughtly 1,000 points, or about 2%.
Energy stocks were the only S&P 500 sector trading in the green, while the industrials, materials and consumer staples sectors were the biggest losers.
Retail gas prices also continue rising. The nationwide average price per gallon is now $3.25, up more
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