Stocks Sway On Wall Street As Oil Slides To $100 Per Barrel

Stocks Sway On Wall Street As Oil Slides To $100 Per Barrel

NEW YORK (AP) — Stocks are swaying on Wall Street as waves of market-moving forces crash into each other and keep trading jumbled, from war in Ukraine to an upcoming Federal Reserve meeting on interest rates.

The S&P 500 was down 0.2% in afternoon trading after the yield on the 10-year Treasury touched its highest level since the summer of 2019. The Dow Jones Industrial Average was up 171 points, or 0.5%, at 33,115, as of 12:18 p.m. Eastern time, and the Nasdaq composite fell 1.2%.

Elsewhere around the world, markets pulled in opposing directions. European markets climbed, while stocks fell sharply in Hong Kong after the neighboring city of Shenzhen was ordered into a shutdown to combat China’s worst COVID-19 outbreak in two years. Oil prices tumbled to take some pressure off the high inflation sweeping the world, with a barrel of U.S. crude falling toward $100 after touching $130 last week.