Changes in Brent and WTI crude oil prices.

 

NEW YORK: Wall Street is facing renewed pressure as surging crude oil prices, rising U.S. Treasury yields and persistent inflation concerns create uncertainty across global financial markets. Investors have become increasingly cautious as higher energy costs threaten corporate profitability, consumer spending and the broader outlook for the American economy.

The three major U.S. stock indexes ended October 7 in negative territory, retreating from recent record levels. The Dow Jones Industrial Average lost approximately 341 points, or 0.7%, while the S&P 500 and Nasdaq Composite each declined around 0.2%. The weakness continued into premarket trading on October 8, with stock index futures falling as international oil prices climbed sharply.

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