US stock market: Dow drops 325 points, oil prices spike
The US stock market had a bumpy start on Wednesday, while the Dow dropped 325 points and the S&P 500 slipped a bit, and tech-heavy Nasdaq managed a slight gain.
The main reason? Oil prices shot up thanks to rising tensions between Iran and Israel, plus attacks near the Strait of Hormuz that raised worries about global supply.
Investors worried about rising inflation due to global risks
Higher oil prices can push up inflation and make everyday stuff more expensive, which isn't great for anyone's wallet.
Even though February's inflation (CPI) came in at 2.4% as expected, these global risks have investors on edge.
Oracle's positive earnings boost tech stocks slightly
Despite all the drama, Oracle's stock jumped 13% after it beat earnings expectations and boosted its future outlook, giving tech stocks some much-needed positive energy.
Still, weak job numbers earlier this week mean investors are staying cautious overall.