Wall Street opens lower as oil climbs amid Middle East tension and Trump-Xi summit anticipation
U.S. stock indexes fell at the open on Thursday as oil prices rose on Middle East uncertainty and investors awaited a summit between Donald Trump and Xi Jinping.
The Dow Jones Industrial Average slipped about 96 points, the S&P 500 dropped roughly 39 points, and the Nasdaq Composite fell over 200 points in early trading. Higher oil prices, driven by ongoing tensions in the Middle East, contributed to the decline. Treasury yields also moved higher, adding pressure on equities. Market participants were cautious ahead of the high-profile meeting between U.S. President Donald Trump and Chinese President Xi Jinping.
Why it matters
The dip shows how geopolitical tension and upcoming diplomatic talks can quickly affect U.S. equity markets.
How this story developed
- Sep 9 Brent crude tops $100 a barrel as Middle East fighting disrupts supply
- Sep 10 Brent crude rose above $105 per barrel.
- Sep 11 US Treasury prices slipped Friday, lifting the 10-year yield to roughly 4.97%, close to the 5% mark, as oil prices climbed and expectations of a Federal Reserve rate hike grew.
- Sep 12 Iran announced attacks on ten vessels near the Strait of Hormuz.
- Sep 14 Brent futures rose to $109.97, a three‑month peak, widening the price gap with regional benchmarks.
- Sep 17 The Federal Reserve lifted its policy rate by a quarter point, its first increase in three years.
- Sep 18 Asian equities rose on Friday while the yen slipped, as oil prices fell and investors eyed the Bank of Japan’s upcoming rate hike.
- Sep 20 Oil benchmarks rose on Monday following a missile and drone attack by Yemen’s Iran-backed Houthis on Saudi Arabia’s capital Riyadh.
- Sep 22 Oil prices fell and AI data demand boosted semiconductor stocks, reversing earlier concerns about oil‑driven market pressure.
- Sep 22 AMD’s market value reached $1 trillion.
- Sep 24 Iran’s president publicly rejected any surrender to the United States at the UN.
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