Nasdaq Falls 2.1%, Brent Crude Surges to $100 Amid Iran Tensions

According to CNBC, stocks fell this week as geopolitical tensions in the Middle East sent oil prices to their highest levels in months. The Nasdaq declined 2.1%, while the S&P 500 slipped 0.6%, marking the indices' second consecutive weekly losses. West Texas Intermediate crude jumped over 8%, while international Brent crude surged nearly 10%.

Oil prices spiked after President Donald Trump warned Iran would pay for the deaths of three U.S. service members, with further gains following threats to bomb Iranian infrastructure and reports of Houthi attacks on Saudi oil tankers in the Red Sea. By Thursday, Brent crude exceeded $100 per barrel for the first time since before the U.S.-Iran ceasefire agreement last month. The surge in crude reignited inflation concerns, pushing the 10-year Treasury yield to its highest level since January 2025. Markets are now pricing in a nearly 35% probability of a Federal Reserve rate hike, up from 13% one week ago.