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Stocks Fall Sharply as Crude Oil Prices Soar and Alphabet Sparks AI Spending Concerns
['Rich Asplund', 'July', 'Min Read']
Yahoo Finance
Sep Brent crude oil prices (CBU26) rose above $100 per barrel for the first time since May.
Stock indexes fell sharply amid a double whammy of soaring oil prices and a decline of -7% in Alphabet following its earnings report released after Wednesday's close.
Interest RatesSeptember 10-year T-notes (ZNU6) on Thursday fell -9.5 ticks, and the 10-year T-note yield rose +4.5 bp to 4.699%.
Sep T-notes tumbled to a 1.5-year nearest-futures low, and the 10-year T-note yield rose to a new 1.5-year high.
Energy stocks and service providers generally traded higher on the surge in oil prices.