this post was submitted on 30 Jul 2026
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Economics

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Oil prices jump, while the Dow drops more than 1,100 as sinking AI stocks drag Wall Street lower (apnews.com)
submitted 3 weeks ago by MicroWave@lemmy.world to c/economics@lemmy.world
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Oil prices got back to jumping on Wednesday, while sinking technology stocks dragged Wall Street lower amid uncertainty about what the Federal Reserve will do to get high inflation under control.

The S&P 500 fell 1.5% after swinging sharply between gains and losses in the last hour of trading. The Dow Jones Industrial Average dropped 1,153 points, or 2.2%, and the Nasdaq composite slumped 1.7% to fall 9.8% below its record set last month.

The action was more decisive in the oil market, where the price of Brent crude leaped 7.3% to settle at $88.09 per barrel after fighting resumed in the war with Iran and raised worries about the global flow of oil.

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[–] PP_BOY_@lemmy.world 14 points 3 weeks ago (1 children)

Worst day for the stock market since April '25 "Liberation Day" BTW. That should be the bigger headline

[–] FiniteBanjo@feddit.online 7 points 3 weeks ago

For the unaware, "liberation day" is what the Trump admin calls the day they enacted a shitload of tariffs.

[–] DandomRude@lemmy.world 5 points 3 weeks ago

Does that mean Epstein's co-conspirators will finally be prosecuted? I seem to recall that Bondi had drawn a connection between the U.S. Department of Justice's refusal to prosecute billionaires for their crimes and the Dow...

[–] HubertManne@piefed.social 2 points 3 weeks ago

eventually trump is going to learn what the petrol dollar is.