Global markets-Wall Street slides, oil surges amid worries over inflation, Middle East
SPY•Wall Street and global stocks slip
Stocks slipped on Tuesday and oil continued to head higher as investors fretted over potential inflation concerns and ongoing conflict in the Middle East.
All three major U.S. indices dipped Tuesday, kicking off a holiday-shortened week on a lower note. The Dow Jones Industrial Average .DJI was down 0.95% in midday trading, while the S&P 500 .SPX dropped 0.33% and the Nasdaq Composite .IXIC slipped 0.12%.
MSCI's gauge of stocks across the globe .MIWD00000PUS was last down 0.37%.
Oil and copper climb on supply and geopolitics
Meanwhile, oil prices climbed after Iran-backed Houthis in Yemen attacked Saudi energy facilities. Brent crude oil LCOc1 was up 0.24% to $97.23 a barrel after hitting a six-week high of $98.28 per barrel earlier in the day. U.S. crude CLc1 rose 0.93% to $92.33 a barrel.
