The three major US stock indices fell for the third consecutive session on September 9, with the Dow Jones losing between 300 and 346 points, roughly 0.6 to 0.7%. Brent crude reached approximately $101 per barrel, a level not seen since July, driven by escalating tensions between the United States and Iran over the Strait of Hormuz. Energy stocks like Exxon Mobil and Chevron paradoxically gained ground while consumer-facing and rate-sensitive sectors suffered. This oil price surge fuels stagflation concerns and limits the Federal Reserve’s ability to ease monetary policy.
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