The Dow Jones Industrial Average briefly dropped more than 1,000 points after the price of oil spiked to its highest level since the summer of 2024.
The Dow lost as many as 1,160 points Thursday before finishing the day with a drop of 784, or 1.6%. The S&P 500, which is the measure of the U.S. stock market that many more 401(k) accounts follow, fell 0.6%, while the Nasdaq composite lost 0.3%.
Worries are rising that a long-term spike in oil prices because of the war with Iran could exhaust households’ ability to spend, grind down the global economy and push interest rates higher.
On Thursday:
The S&P 500 fell 38.79 points, or 0.6%, to 6,830.71.
The Dow Jones Industrial Average fell 784.67 points, or 1.6%, to 47,954.74.
The Nasdaq composite fell 58.50 points, or 0.3%, to 22,748.99.
The Russell 2000 index of smaller companies fell 50.44 points, or 1.9% to 2,585.57.
For the week:
The S&P 500 is down 48.17 points, or 0.7%.
The Dow is down 1,023.18 points, or 2.1%.
The Nasdaq is up 80.77 points, or 0.4%.
The Russell 2000 is down 46.79 points, or 1.8%.
For the year:
The S&P 500 is down 14.79 points, or 0.2%.
The Dow is down 108.55 points, or 0.2%.
The Nasdaq is down 493 points, or 2.1%.
The Russell 2000 is up 103.67 points, or 4.2%.
Copyright 2026 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
Please purchase a Premium Subscription to continue reading.
To continue, please log in, or sign up for a new account.
We offer one free story view per month. If you register for an account, you will get two additional story views. After those three total views, we ask that you support us with a subscription.
A subscription to our digital content is so much more than just access to our valuable content. It means you’re helping to support a local community institution that has, from its very start, supported the betterment of our society. Thank you very much!
Only subscribers can view and post comments on articles.
Already a subscriber? Login Here
Sherri Roberts Quartet with Sherri Roberts vocals, Dave Udolf piano, Chris Amberger bass, an… Read more"I'm Hip" A Tribute to the Hep-Cat Singers-Songwriters of Jazz
Exclusive film screening in San Mateo Read moreA LITTLE FELLOW: THE LEGACY OF A.P.GIANNINI
CA Is Burning said:
This sounds like a monopolistic move and should be challenged
Dirk van Ulden said:
Success! An email has been sent to with a link to confirm list signup.
Error! There was an error processing your request.
Sorry, an error occurred.
Already Subscribed!
Cancel anytime
Thank you .
Your account has been registered, and you are now logged in.
Check your email for details.
Submitting this form below will send a message to your email with a link to change your password.
An email message containing instructions on how to reset your password has been sent to the email address listed on your account.
No promotional rates found.
Secure & Encrypted
Thank you.
Your gift purchase was successful! Your purchase was successful, and you are now logged in.
| Rate: | |
| Begins: | |
| Transaction ID: |
A receipt was sent to your email.
(0) comments
Welcome to the discussion.
Log In
Keep the discussion civilized. Absolutely NO personal attacks or insults directed toward writers, nor others who make comments.
Keep it clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
Don't threaten. Threats of harming another person will not be tolerated.
Be truthful. Don't knowingly lie about anyone or anything.
Be proactive. Use the 'Report' link on each comment to let us know of abusive posts.
PLEASE TURN OFF YOUR CAPS LOCK.
Anyone violating these rules will be issued a warning. After the warning, comment privileges can be revoked.