Oil Rises, Nasdaq Slips on Fresh Tanker Attack -- WSJ
Dow Jones2026/10/08 18:05By Joe Wallace and Sam Goldfarb Oil prices fell from their daily highs after President Trump posted on social media that the U.S. is having "productive discussions" with Iran and won't attack the country prior to the midterm elections. Benchmark Brent crude prices are still up around 4% on the day however and are heading for their highest close since mid-September. The price had been up more than 5% earlier, pushed up by a fresh tanker attack in the Persian Gulf. Production cuts in the Gulf of Mexico, prompted by a hurricane, aren't helping either. Rising energy prices are weighing on U.S. stocks, which are slipping for a second day. The Nasdaq composite led stocks lower, falling 1.5%. Chip stocks like Nvidia and Intel were down after a Financial Times report raised questions about OpenAI's revenue outlook. Benchmark Treasury yields were lower, ticking down after the Trump post on Truth Social. Some investors also saw opportunity in buying at higher yields yesterday, when a strong 10-year Treasury auction soothed some market fears. This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage). (END) Dow Jones Newswires October 08, 2026 14:05 ET (18:05 GMT)
By Joe Wallace and Sam Goldfarb
Oil prices fell from their daily highs after President Trump posted on social media that the U.S. is having "productive discussions" with Iran and won't attack the country prior to the midterm elections.
Benchmark Brent crude prices are still up around 4% on the day however and are heading for their highest close since mid-September. The price had been up more than 5% earlier, pushed up by a fresh tanker attack in the Persian Gulf. Production cuts in the Gulf of Mexico, prompted by a hurricane, aren't helping either.
Rising energy prices are weighing on U.S. stocks, which are slipping for a second day. The Nasdaq composite led stocks lower, falling 1.5%. Chip stocks like Nvidia and Intel were down after a Financial Times report raised questions about OpenAI's revenue outlook.
Benchmark Treasury yields were lower, ticking down after the Trump post on Truth Social. Some investors also saw opportunity in buying at higher yields yesterday, when a strong 10-year Treasury auction soothed some market fears.
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
October 08, 2026 14:05 ET (18:05 GMT)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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