US Stock Market | Oil shock and war fears jolt global markets ahead of key US inflation data
Why it matters: Higher oil prices could ignite inflation, squeezing margins and hurting investors.
- Brent crude surged past $110 per barrel citing supply disruption fears
- S&P 500 closed the week about 2% lower
- US labor data showed February payroll decline
The US-Israel-Iran conflict has pushed Brent crude above $110, rattling global equity markets and dragging the S&P 500 down roughly 2% as investors brace for energy-driven inflation ahead of the US CPI report.
