Markets plunged as oil topped $80 after a reported tanker attack, sending the Dow down about 1,000 points. Banking headlines were mixed: Wells Fargo won regulatory relief while layoffs and fintech moves added uncertainty.
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Energy fears dominated today's session as a reported attack on a tanker in the Persian Gulf pushed U.S. oil above $80 for the first time in more than a year, and stocks were swept lower. The Dow tumbled roughly 1,000 points as rising oil and climbing Treasury yields forced investors into a risk-off posture.
This matters because higher oil and yields feed through to inflation and corporate costs, while spiking market
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