Stocks fell on Monday after a drone attack on a Saudi Arabian oil field this weekend knocked half of the kingdom's production offline, sending oil prices rising the strongest in 11 years.
All three of the major averages had losses of at least 0.28 percent. The Dow Jones industrial average was the biggest fall, losing 0.54 percent or 146 points while snapping its eight-day winning streak.
| Ticker | Security | Last | Change | % Chg | ||||
|---|---|---|---|---|---|---|---|---|
| In: DJI | DOW JONES AVERAGES | 27076.82 | -1 |
-0.52% | ||||
| SP500 | S&P 500 | 2997.9 | -9.49 | -0.32%] I: COMP | NASDAQ COMPOSITE INDEX | 8153.139303 | -23.57 | -0.29 % |
Airlines, including American Airlines, Delta Air Lines and Southwest Airlines, were all lower as a result of rising oil prices.
| Ticker | Security | Last | Change | % Chg | ||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AAL | AMERICAN AIRLINES GROUP INC. | 27.75 | -2.21 | -7.36% | ||||||||||||||||||||||
| DAL | DELTA AIR LINES INC. | 59.01 | -1.00 | -1.67% | ||||||||||||||||||||||
| LUV | SOUTHWEST AIRLINES CO. | 55.79 | 0.00 [19659043] 0.00% [19659023] ExxonMobil, Chevron and other energy names obtained in the news.
Elsewhere, General Motors fell when United Auto Workers went on strike for the first time in 12 years after the two sides failed to sign a new contract. The talks will continue on Monday.
Both West Texas Intermediate Crude Oil and Brent Crude Oil gained as much as 14 percent, hitting highs of $ 62.53 and $ 68.65, respectively. The attack on the Saudi Aramco plant stopped production of 5.7 million barrels of crude per day, more than half of Saudi Arabia's global daily exports. It is also more than 5 percent of the world's daily crude oil production. MORE FROM FOXBUSINESS.COMThe increased geopolitical risk triggered a flight to safety in precious metals and US Treasurys. Gold was up 0.72 percent, or $ 10.80, to $ 1,510.30 per ounce. Purchases of the US Treasury pushed the 10-year return more than 6 basis points to 1.839 percent. CLICK HERE TO READ MORE ON FOX BUSINESS [19659002] FOX Business & Ken Martin contributed to this report. Source link Related Articles |
