Wall Street Seeks Safety Amid Geopolitical Angst: Markets Wrap
- Oil surges to wrap volatile week spurred by Israel-Hamas war
- US consumer inflation expectations jump to a five-month high
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Stocks fell and bonds rose as signs Israel is preparing for a ground invasion of Gaza left traders looking for safety ahead of the weekend. Gold surged the most since March. Oil rallied.
Big tech sold off, with the Nasdaq 100 down over 1%. Boeing Co. sank after saying it’s investigating quality issues affecting the 737 Max aircraft. JPMorgan Chase & Co. and Wells Fargo & Co. gained on solid earnings. Treasury 30-year yields dropped nine basis points to 4.76%, unwinding part of the previous session’s surge. West Texas Intermediate crude topped $87 a barrel.