Fermi Inc. Shares Plunge 11.31% as Oil Prices Spike 6.4% to $75.80
Fermi Inc. shares plunged 11.31%, ranking as the Russell 1000’s second-largest loser Tuesday after West Texas Intermediate crude surged 6.4% to $75.80 on Middle East conflict fears. The drop outpaced the S&P 500’s 0.9% decline as all 11 sectors ended lower.
1. Fermi Inc. Stock Slide
Shares of Fermi Inc. fell 11.31% on Tuesday, making it the Russell 1000’s second-largest decliner as investors sold off on energy-induced market volatility.
2. Oil Surge and Conflict
West Texas Intermediate crude spiked 6.4% to $75.80 a barrel following Middle East conflict escalation, including drone strikes in Riyadh and threats to the Strait of Hormuz.
3. Relative Performance
The downturn outpaced the S&P 500’s 0.9% loss and all 11 sectors trading lower, underscoring heightened risk aversion across equity markets amid rising oil and geopolitical tensions.