Business · Markets · 2 hrs ago
Wall Street falls as oil reaches its highest level since 2022
Wall Street stocks closed broadly lower on Friday as rising oil prices added pressure to the market.
The S&P 500 fell 0.5 per cent, its second weekly loss in a row, while the Dow dropped 1.2 per cent and the Nasdaq slipped 0.2 per cent.
Brent crude rose 3.1 per cent to US$116.72 a barrel, its highest since June 2022.
Higher fuel costs can add to inflation concerns, while government debt worries have also pushed bond yields higher.
Investors are also questioning whether heavy spending on artificial intelligence will bring enough returns, especially as high interest rates make borrowing more expensive.
Next week, investors will watch results from Alphabet, Microsoft and Amazon, alongside a key US inflation measure.
Wall Street expects the Federal Reserve to hold rates steady next week, but is leaning toward another rate rise in December.
Wall Street stocks closed broadly lower Friday as oil prices climbed to their highest level since June 2022.
The S&P 500 fell 0.5 per cent, its second straight weekly loss.
The Dow Jones Industrial Average fell 1.2 per cent, while the Nasdaq composite slipped 0.2 per cent.
Brent crude rose 3.1 per cent to settle at US$116.72 a barrel.
Higher oil prices weighed on most stocks, while energy companies including Chevron and ConocoPhillips gained.
- Who
- U.S. stock market investors and companies traded on Wall Street.
- What
- Major U.S. stock indexes fell as oil prices rose to their highest level since June 2022.
- When
- Friday; the article was published on October 24, 2026.
- Where
- Wall Street, New York.
- Why
- Rising oil prices weighed on stocks. The article also cites concerns about inflation, interest rates and the cost of AI investments.
This story does not have two clearly opposing sides.
Brent crude was below US$97 a barrel.
The S&P 500 declined, and the 10-year U.S. Treasury yield fell sharply.
Brent crude rose 3.1 per cent to settle at US$116.72 a barrel, while Wall Street’s major stock indexes closed lower.
- S&P 500
- Fell 0.5 per cent
- Dow Jones Industrial Average
- Fell 1.2 per cent
- Nasdaq composite
- Fell 0.2 per cent
- Brent crude
- US$116.72 a barrel, up 3.1 per cent
- 10-year U.S. Treasury yield
- 4.99 per cent, up from 4.96 per cent late Thursday
What people are saying
Investors appear increasingly focused on the economics of AI, particularly the substantial upfront costs required to build AI infrastructure and the uncertainty around the timing of returns on those investments.