Wall Street’s main stock indices are trading lower this Thursday (12).
Oil rises more than 9%, fueling concerns about inflation and forcing investors to reduce expectations of US interest rate cuts.
This Thursday (12), the supreme leader of Iran, Mojtaba Khamenei, highlighted that “as a tool of pressure”.
The crudes fired after, in alleged Iranian attacks, part of a series of attacks on oil and transport facilities across the Middle East. Iran had warned on Wednesday (11) that the .
Goldman Sachs has pushed back its forecast for the Federal Reserve’s next interest rate cut to September from its previous expectation of June.
At around 11:55 am, Brasília time, the Dow Jones fell 1.28%, to 46,811 points. The S&P 500 fell 1.21%, to 6,694 points, while the Nasdaq fell 1.63%, to 22,346 points.
Brent crude futures for May 2026, the global benchmark for the price of oil, rose more than 9% to US$100.47 a barrel. WTI Futures for April 2026, a benchmark in the US, was also up more than 9%, at US$95.83 a barrel.
The VIX volatility index, Wall Street’s fear indicator, also rose and was at 26.50.
The member countries of the International Energy Agency (IEA) unanimously agreed, on Wednesday (11), on – the largest release of emergency oil reserves in history. This is a measure designed to reinforce the supply of crude oil and contain the rise in prices caused by the war in the Middle East.
US Energy Secretary Chris Wright reported on Wednesday (11), in turn, that in an attempt to reduce oil prices, which have soared due to supply shocks caused by the war between the US and Israel with Iran.
The IEA also highlighted this Thursday (12) that the world is facing the biggest interruption in oil supplies in history, with global supply expected to fall by 8 million barrels per day in March.
Among the market’s highlights, American Airlines and United fell more than 2% and more than 3%, respectively, this Thursday (12). Shares of cruise companies Norwegian and Royal Caribbean also fell by more than 3% and 5%, respectively.
Investors are also scrutinizing the roughly $2 trillion private credit market after a series of credit problems have emerged in recent months, and Swiss private equity firm Partners Group has warned that private credit default rates could double in the coming years.
Morgan Stanley shares fell more than 3% after the company limited redemptions at one of its private credit funds, following similar actions taken by Blackstone and BlackRock earlier this month.
JPMorgan Chase reduced the value of some loans to private credit funds and fell more than 2%.
Blackstone’s shares fell more than 2%, while Blue Owl’s shares lost almost 1%.
Among the economic data on the radar, the number of Americans filing new unemployment claims fell last week, which could help ease fears of a deteriorating job market following an unexpected decline in employment in February.
Initial jobless claims fell by 1,000 in the week ending March 7 to a seasonally adjusted 213,000, the Labor Department said Thursday. Economists consulted by Reuters predicted 215,000 applications for the last week.
Annual inflation in the United States remained unchanged in February, at 2.4%, according to the latest Index released on Wednesday (11). On a monthly basis, prices rose 0.3% in February, a faster pace than the 0.2% recorded in January, according to the US Bureau of Labor Statistics.
*With information from Reuters
