Dow ends 1,000 points lower as U.S. stocks resume selloff on trade-war fears
U.S. stocks ended sharply lower Thursday, though well...
U.S. stocks ended sharply lower Thursday, though well off session lows, giving back a chunk of the previous day's historic gains, while the U.S. dollar also fell sharply versus major rivals.
The ICE U.S. Dollar Index, a measure of the currency against a basket of six major rivals, fell 1.8% to its lowest level since October. The yield on the 10-year Treasury note fell, but the yield on the 30-year Treasury bond rose. Yields and debt prices move opposite each other.
"Today’s trading has seen a rare, ugly and worrying combination of market moves with the dollar, bonds and equities lower amid renewed volatility and stress cross-asset markets — despite a decent enough 30-year Treasury auction," said Krishna Guha, head of the global policy and central-bank strategy team at Evercore ISI.
"Today’s price action could be a spasm en route to a durable market footing. But the market is pressing for a bigger U-turn with either a complete cessation of tariffs ex-China, or negotiations with China, or both," Guha wrote.
The Dow Jones Industrial Average ended with a loss of 1,014.79 points, or 2.5%, after dropping 2,180 points at its session low.
The S&P 500 finished down 3.5% at 5,268.05.
The Nasdaq Composite declined 4.3% to end at 16,387.31
US Crude Oil Inventories Rise More than Expected: EIA
Data from the EIA Petroleum Status Report showed that ...
Data from the EIA Petroleum Status Report showed that crude oil inventories in the US rose by 2.553 million barrels in the week ended April 4, 2025, above market expectations of a 2.2 million build.
Also, crude stocks at the Cushing, Oklahoma, delivery hub increased by 681 thousand barrels, after a 2.373 million rise.
Conversely, gasoline stocks fell by 1.6 million, compared with forecasts of a 1.7 million draw.
Distillate stockpiles, which include diesel and heating oil, decreased by 3.544 million barrels, compared to the consensus of a 0.2 million barrel increase.
A rupture in North Dakota shut down the 624,000-barrel-per-day Keystone...
A rupture in North Dakota shut down the 624,000-barrel-per-day Keystone oil pipeline on Tuesday and caused a 3,500-barrel spill into a rural agricultural field. Though no immediate impact on refineries is expected, analysts warn the disruption could lift diesel and jet fuel prices if the shutdown lasts more than a few days.
NextDecade secures offtake deal for Rio Grande Train 4
NextDecade has reached an agreement to sell around 1.32 million short...
NextDecade has reached an agreement to sell around 1.32 million short tons of liquefied natural gas annually for 20 years from Train 4 of its Rio Grande LNG facility in Brownsville, Texas, to a Saudi Aramco subsidiary. The deal, priced at Henry Hub rates, depends on a final investment decision for Train 4.
Texas and NY judges halt deportations under wartime powers. Federal...
Texas and NY judges halt deportations under wartime powers. Federal judges in separate cases in the two states temporarily barred the deportation of Venezuelans the government alleges are members of the Tren de Aragua gang to give them time to plead their cases. The decisions came after the Supreme Court ruled last week that the Trump administration could deport people using the rarely invoked 1798 Alien Enemies Act, but said they had to be given notice and a chance to challenge the decision. The ACLU filed cases seeking time to make such challenges in New York and in the Texas district where a facility the government has used to detain migrants prior to deportation is located, and won the rulings from the judges.
At least 124 people died when the roof collapsed at a Dominican Republic nightclub.
Delta pulled its full-year guidance and Walmart yanked its guidance for Q1, saying their performance would be harmed by tariffs before the president made his pause announcement.
The White House said it froze $1 billion in federal funding for Cornell University and $790 million for Northwestern University amid investigations into the universities’ alleged insufficient responses to antisemitism.
Microsoft is pulling back from data center construction, including a $1 billion project planned for Ohio.
The Supreme Court said the president doesn’t have to rehire two Democratic members of federal labor agencies while it reviews whether he has the power to permanently fire them.
The National Recording Registry’s latest additions include the original cast recording of Hamilton, a Miles Davis record, and the sounds from the Minecraft video game.
