{"id":76439,"date":"2026-06-04T00:40:48","date_gmt":"2026-06-04T04:40:48","guid":{"rendered":"https:\/\/tvdelmarva.com\/wp\/markets-drop-as-wall-streets-record-run-ends-oil-prices-decline\/"},"modified":"2026-06-04T00:40:48","modified_gmt":"2026-06-04T04:40:48","slug":"markets-drop-as-wall-streets-record-run-ends-oil-prices-decline","status":"publish","type":"post","link":"https:\/\/tvdelmarva.com\/wp\/markets-drop-as-wall-streets-record-run-ends-oil-prices-decline\/","title":{"rendered":"Markets Drop as Wall Street’s Record Run Ends, Oil Prices Decline"},"content":{"rendered":"\n
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Stock markets across Asia declined Thursday after Wall Street experienced drops that ended a nine-day winning streak for the S&P 500.<\/p>

Crude oil prices dropped after climbing Wednesday when renewed conflict jeopardized the U.S.-Iran ceasefire.<\/p>

During early Thursday trading in Asia, Brent crude declined $1.17 to $96.64 per barrel, while benchmark U.S. crude oil dropped $1.08 to $94.94 per barrel. Crude prices had risen the previous day after both the United States and Iran reported launching retaliatory strikes for previous attacks or attempted strikes.<\/p>

In equity markets, Japan’s Nikkei 225 dropped 1.9% to 67,101.83 as investors sold technology stocks to secure profits. Energy and technology conglomerate SoftBank Group plummeted 10.4%, while Shin-Etsu Chemical declined 3.8%.<\/p>

Hong Kong’s Hang Seng decreased 1.3% to 25,299.29, and the Shanghai Composite index dropped 0.4% to 4,067.46.<\/p>

In South Korea, the Kospi fell 1.7% to 8,651.87, while Australia’s S&P\/ASX 200 slipped 1.5% to 8,657.40.<\/p>

On Wednesday, the S&P 500 declined 0.7% from its record high for its first decrease in 10 days, ending at 7,553.68. The Dow Jones Industrial Average slipped 1.2% to 50,687.07, while the Nasdaq composite dropped 0.9% to 26,853.98.<\/p>

Palo Alto Networks contributed to the market decline, falling 5.6% despite reporting quarterly earnings that exceeded analyst projections.<\/p>

Equities also faced pressure from rising bond market yields, which increased alongside oil prices. The 10-year Treasury yield climbed to 4.49% from 4.46% late Tuesday and from just 3.97% before the war started.<\/p>

Elevated yields globally threaten to slow economic growth and reduce values for stocks and various other investments. They have already pushed the average long-term U.S. mortgage rate to its highest level in nine months, and they may limit companies’ borrowing for artificial-intelligence data centers that have recently supported U.S. economic expansion.<\/p>

Costlier loans can particularly impact smaller companies because many require borrowing for growth. The Russell 2000 index of the smallest U.S. stocks declined 1.3%, exceeding broader market losses.<\/p>

Wednesday’s U.S. economic data showed mixed results. A report from the Institute for Supply Management indicated that growth accelerated more than economists anticipated last month for U.S. construction, agricultural and other services businesses.<\/p>

The survey also revealed businesses are experiencing pressure from higher costs due to tariffs and increased oil prices.<\/p>

Nevertheless, stocks remain close to record levels, despite all the global economic pressure from higher inflation.<\/p>

Crude prices stay below their war-time peaks with Iran, and optimism appears to persist on Wall Street that the United States and Iran will eventually agree to reopen the Strait of Hormuz to oil tankers. This would enhance global crude flow and hopefully reduce prices.<\/p>

GameStop gained 6% after the video-game retailer reported its latest quarter revenue increased 14% from the previous year. The company also revealed a plan to return up to $2 billion to investors through stock buybacks.<\/p>

Macy’s rose 0.6% after fluctuating between gains and losses throughout the day. The retailer posted quarterly profit that significantly exceeded analyst expectations, while stating that a merchandise overhaul and improved customer service is connecting with shoppers.<\/p>

In other early Thursday trading, the U.S. dollar declined to 159.90 Japanese yen from 160.08 yen late Wednesday. The euro increased to $1.1610 from $1.1600.<\/p>","protected":false},"excerpt":{"rendered":"

Stock markets across Asia fell Thursday after Wall Street ended its nine-day winning streak. Oil prices also dropped following earlier gains tied to renewed tensions between the United States and Iran.<\/p>\n","protected":false},"author":4,"featured_media":76438,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[834],"tags":[],"class_list":["post-76439","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"jetpack_publicize_connections":[],"jetpack_featured_media_url":"https:\/\/i0.wp.com\/tvdelmarva.com\/wp\/wp-content\/uploads\/2026\/06\/news-1780548048255.jpg?fit=1000%2C666&ssl=1","jetpack_shortlink":"https:\/\/wp.me\/pbtNqq-jST","jetpack-related-posts":[{"id":39226,"url":"https:\/\/tvdelmarva.com\/wp\/oil-prices-surge-past-111-as-asian-markets-tumble-following-wall-street-drop\/","url_meta":{"origin":76439,"position":0},"title":"Oil Prices Surge Past $111 as Asian Markets Tumble Following Wall Street Drop","author":"Admin","date":"March 18, 2026","format":false,"excerpt":"Global stock markets declined Thursday as oil prices climbed above $110 per barrel amid ongoing Middle East tensions. 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