Business · 2026-10-23 · Afternoon briefing
US stocks slide as oil tops $102 on regional tensions
US stocks fell on Friday, continuing a selloff from the previous session as technology megacaps traded lower. The S&P 500 index dropped 0.4%, while a gauge tracking the seven largest technology firms fell by the same margin. The tech-heavy Nasdaq 100 index, however, was little changed.
In commodity markets, oil prices climbed sharply. West Texas Intermediate crude rose 2.9% to trade above $102 a barrel. Brent crude, the global benchmark, has gained almost 4% this week, a move linked to intensifying conflict in Saudi Arabia. Meanwhile, the yield on 10-year US Treasuries rose to 4.99%.
Investors are parsing corporate earnings for signals about the health of the economy. The latest mixed results from payments company American Express are being scrutinised for clues about the state of consumer spending.
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- Why US stocks are down: Dow, Nasdaq slide as Iran tensions push oil, yields higher amid Trump-Xi talks
- European Midday Briefing : AI Stocks Slide, Oil Tops $112
- US markets set to open lower as AI stocks slide and oil tops $100
- European stocks slide as oil tops $107, bond yields climb
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