Stocks Slide as Oil Prices Jump, Rates Rise, Earnings Disappoint; Airlines Sink on United's Warning
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Stocks sold off as oil prices jumped on Middle East tensions and earnings disappointed. The Dow fell 330 points, the S&P 500 dropped 1.3%, and the Nasdaq sank 1.6%.
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Treasury yields rose, with the 30-year touching 5% and the 10-year above 4.9% - its highest since 2006. Rising rates weighed on stocks.
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Morgan Stanley stock slid 6% as profits fell 9% on weaker investment banking and trading revenue.
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Tech stocks like Nvidia and ASML declined on US export control fears and slowing demand signals.
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United Airlines plunged 10% after warning higher fuel costs will hit profits despite an earnings beat. Its outlook dragged airline stocks lower.