Market Highlights

A renewed oil spike stoked fears the war in Iran will further crimp energy supplies and fuel inflation, spurring a slide in stocks, which were also hit by signs of distress in the $1.8 trillion private-credit market. Brent closed above $100 for the firsttime since 2022, with the Strait of Hormuz blockage choking off flowsthrough the trade artery. The S&P 500 fell 1.5% to the lowest since November. Banks sank as redemption requests from private-credit funds forced Morgan Stanley and Cliffwater LLC to cap withdrawals. Deutsche Bank AG flaggeda $30 billion exposure to the sector. A gauge of megacaps approached the threshold of a correction. In late hours, Adobe Inc. gave a tepid outlook and said its chief will resign. GA selloff in global stocks eased as oil prices steadied after a volatile stretch, though investors remained wary of risks from the Iran war heading into the weekend.

Wall Street traders parsing geopolitical headlines kept a lid on stocks and bonds, with oil jumping as a move from rich nations to deploy reserves was considered just a reprieve amid the war in Iran. US crude topped $87 despite the International Energy Agency’s approval of its largest-ever release of emergency stockpiles. Relatively tame inflation data from before the outbreak of the conflict failed to boost risk appetite, with the S&P 500 wavering. Treasuries slid, leaving traders anticipating the Federal Reserve will cut rates only once this year. Global stocks retreated as oil rallied after an attack on tankers in Iraqi waters highlighted the threat to energy infrastructure in the Middle East and stoked concerns of an escalating conflict.

Volatility whipsawed stocks as traders parsed conflicting signals about the outlook for oil supplies as the war in Iran rattles energy markets. In late hours, Oracle Corp. jumped on a strong sales forecast. The S&P 500 wiped out its advance. US crude trimmed a plunge that briefly drove it below $80 as the White House said no tanker has been escorted by the navy through the Strait of Hormuz, refuting an earlier, since-deleted social media post by Energy Secretary Chris Wright. Oil still sank 12%, the most since 2022, as big economies mull deploying stockpiles to avoid a crunch. Stocks rose and oil held below $90 a barrel after a report on the proposed release of oil reserves to ease higher energy prices boosted market confidence, following recent volatility across assets.

Wall Street staged a dramatic comeback, with stocks and bonds rebounding on hopes the 10- day-old Iran war may be nearing a conclusion. Oil tumbled in post-settlement trading after earlier topping $100. The S&P 500 climbed 0.8% as President Donald Trump told CBS the conflict is “very complete, pretty much” and the military operation is “very far” ahead of its initial four- to five-week timeframe. The equity benchmark erased an intraday loss of over 1.5% for the first time since April. US crude dropped to around $87 in late hours. Ten-year Treasury yields halted a five-day increase. Stocks rose and crude oil fell as President Donald Trump signaled the Iran war may be nearing an end, helping boost sentiment after Monday’s selloff in risk assets.

A weak jobs report hit stocks at a time when a widening war in the Middle East is lifting oil prices and fueling inflation jitters. Anxiety about the private-credit industry also reduced risk appetite. Bitcoin tumbled. Friday’s 1.3% slide in the S&P 500 sent the gauge to its worst week since October. Financial shares sank, with BlackRock Inc. down 7.7% after curbing withdrawals from a private-credit fund. Chipmakers plunged as Oracle Corp. and OpenAI scrapped plans to expand an artificial-intelligence data center in Texas. US oil topped $90, notching its biggest-ever weekly gain. Short-dated bonds outperformed as traders boosted bets on Federal Reserve rate cuts A global bond rout showed no respite, with the 10-year Treasury yield rising for a fourth straight day on concern that higher oil prices will fuel inflationary pressures that could hinder the Federal Reserve’s ability to cut rates. In the run-up to the payrolls report, data showed jobless claims are settling around some of the lowest levels in the last year amid a low-firing environment. Friday’s employment report is expected to show hiring moderated last month after a strong reading in January while unemployment held steady.

A report underscoring economic resilience and cooling inflationary pressures drove stocks higher at a time when the war in the Middle East clouds the growth outlook. Bitcoin topped $73,000. Oil whipsawed. Equities rose as data showed the US service economy expanded at the fastest pace since mid-2022 while a price index hit an almost one-year low. A megacap rally lifted the market, with the Nasdaq 100 up 1.5%. In late hours, Broadcom Inc.’s outlook underwhelmed investors, but the firmannounced plans to buy back as much as $10 billion in shares through the end 2026 A global equity rebound that saw Asian shares rise for the firsttime since the Iran war began looks set to falter going into Europe as Middle-East tensions rise and stresses mount in energy markets.

A selloff in stocks and bonds was trimmed as assurances on American action to secure shipping lanes through the Strait of Hormuz amid the Iran war pared what had been an over 9% surge in oil. Following an earlier slide in the S&P 500 that reached 2.5%, the equity benchmark dropped less than 1%. President Donald Trump said the US will escort and insure tankers and other vessels through the world’s most-critical energy chokepoint. Oil prices waned in post-settlement trading, with Brent trading near $80 a barrel. Asian stocks plunged the most in nearly a year, led by the biggest South Korean crash ever, as mounting concerns over the Iran war triggered an exodus from some of the world’s best- performing markets.

Oil surged as the Iran war threatened to snarl shipping lanes, stoking inflation fears that pummeled bonds amid diminishing odds for a rate cut. The dollar rose. Stocks erased losses. Also weighing on Treasuries were figuresshowing manufacturing expanded, with input prices jumping. Ten-year yields saw their biggest advance since October. The S&P 500 was little changed after a slide that earlier topped 1%. Energy and defense shares gained. Several tech firmswith solid balance sheets rallied. Airlines sank. Gold topped $5,300. Stock losses deepened and bonds were sold off as Iran stepped up its attacks on the US and its allies in the Middle East, pushing oil prices higher and fueling inflation concerns. The dollar rose.

Wall Street traders shunned riskier corners of the market, with stocks falling on geopolitical concerns and any issues related to private credit — a key funding source for technology companies. Treasuries climbed at the end of their best month in a year. Oil jumped. Friday’s drop drove the S&P 500 to its biggest monthly loss since March. Anxiety about an artificial-intelligence bubble resurfaced as OpenAI raised $110 billion. Banks sank, with investors remaining jittery after the recent collapse of a UK mortgage firm.UBS Group AG strategists this week said private-credit default rates could hit as high as 15% if AI sparks an “aggressive” disruption. Stocks tumbled and oil prices jumped as the eruption of war between the US and Iran rattled global markets. Gold and the dollar rose as investors piled into havens.

Wall Street traders lifted stocks away from session lows as oil erased its gain amid signs of progress in US nuclear talks with Iran. Chipmakers sank as Nvidia Corp.’s results failed to inspire investors seeking reassurances about artificial intelligence. Bonds climbed. While the S&P 500 fell, about 350 of its shares advanced. The Nasdaq 100 lost 1.2%. Even after giving a bullish forecast, Nvidia tumbled 5.5%, dragging down almost every company in a key semiconductor gauge. Salesforce Inc. gave a strong estimate for long-term sales and announced a large share buyback, assuaging some fears about AI disruption of the software industry Stocks in Asia and Europe were poised to outperform US benchmarks in February, as the so-called AI scare trade that rattled Wall Street prompted investors to rotate into markets seen as more insulated from disruption risks.