Global stock markets fell Monday as oil prices surged above $100 per barrel, raising fears of an energy crisis tied to the escalating war involving Iran, according to CNN.
The Dow Jones Industrial Average dropped about 820 points, while the S&P 500 and Nasdaq Composite also declined. Investors reacted to concerns that disruptions to oil supply could drive inflation higher and weaken economic growth.
Oil price passes $100 a barrel for first time since 2022, with G7 set for emergency talks later - follow live https://t.co/hP2OPlYziw
— BBC Breaking News (@BBCBreaking) March 9, 2026
U.S. crude oil jumped about 14 percent to roughly $104 per barrel. Brent crude, the global benchmark, climbed to around $105. Prices briefly approached $120 before easing after reports that G7 nations may consider releasing emergency oil reserves.
Energy markets remain focused on the Strait of Hormuz, a key shipping route that carries roughly 20 percent of global oil supply. Analysts say the conflict has effectively halted shipping through the narrow waterway.
Global markets also dropped sharply. Japan’s Nikkei 225 fell more than 5 percent as investors shifted toward safer assets.
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TIPP Staff
