US Stocks Plummet as Oil Prices Surge Amid Iran Protests
The US stock market continued its downward trend on Wednesday, with the S&P 500 plummeting by 0.7% as investors reacted to mixed profit reports from several major banks. The Dow Jones Industrial Average also fell, down 182 points or 0.4%, while the Nasdaq composite took a hit, dropping 1%.
The market's nervousness was fueled by rising oil prices, which added to their recent gains due to protests in Iran that could disrupt oil production and lead to supply chain disruptions. Gold prices also rose sharply, nearing record levels as investors sought safer investments.
Wells Fargo was the biggest contributor to the US stock market's decline, falling 4.6% after reporting weaker-than-expected profit and revenue for the latest quarter. The San Francisco-based bank cited lower trading fees and other miscellaneous items as factors contributing to its disappointing results.
Despite this, Bank of America reported stronger-than-expected profits, but its shares still fell by 3.8%. Citigroup also swung between gains and losses following its own profit report, closing at a 1.1% loss.
The pressure on companies to justify their high stock prices was evident, with analysts expecting earnings per share for the final quarter of 2025 to be around 8% higher than a year earlier. Biogen's disappointing results, which saw its shares tumble by 6%, highlighted the challenges facing many industries as they strive to maintain momentum.
However, some oil companies bucked the trend, with Exxon Mobil and ConocoPhillips rising sharply on the back of increasing crude prices. The benchmark US crude price rose 0.9% to bring its gain for the year above 7%.
In other news, Treasury yields edged lower following mixed reports on the US economy, while shoppers' spending at US retailers in November exceeded expectations but was overshadowed by concerns about underlying trends.
Across the globe, stock markets were mixed. Japan's Nikkei 225 rose to a record high as investors awaited potential general elections, while Hong Kong stocks rose 0.6% despite China's trade surplus surging 20% in 2025.
The US stock market continued its downward trend on Wednesday, with the S&P 500 plummeting by 0.7% as investors reacted to mixed profit reports from several major banks. The Dow Jones Industrial Average also fell, down 182 points or 0.4%, while the Nasdaq composite took a hit, dropping 1%.
The market's nervousness was fueled by rising oil prices, which added to their recent gains due to protests in Iran that could disrupt oil production and lead to supply chain disruptions. Gold prices also rose sharply, nearing record levels as investors sought safer investments.
Wells Fargo was the biggest contributor to the US stock market's decline, falling 4.6% after reporting weaker-than-expected profit and revenue for the latest quarter. The San Francisco-based bank cited lower trading fees and other miscellaneous items as factors contributing to its disappointing results.
Despite this, Bank of America reported stronger-than-expected profits, but its shares still fell by 3.8%. Citigroup also swung between gains and losses following its own profit report, closing at a 1.1% loss.
The pressure on companies to justify their high stock prices was evident, with analysts expecting earnings per share for the final quarter of 2025 to be around 8% higher than a year earlier. Biogen's disappointing results, which saw its shares tumble by 6%, highlighted the challenges facing many industries as they strive to maintain momentum.
However, some oil companies bucked the trend, with Exxon Mobil and ConocoPhillips rising sharply on the back of increasing crude prices. The benchmark US crude price rose 0.9% to bring its gain for the year above 7%.
In other news, Treasury yields edged lower following mixed reports on the US economy, while shoppers' spending at US retailers in November exceeded expectations but was overshadowed by concerns about underlying trends.
Across the globe, stock markets were mixed. Japan's Nikkei 225 rose to a record high as investors awaited potential general elections, while Hong Kong stocks rose 0.6% despite China's trade surplus surging 20% in 2025.
. It's like the whole world is holding its breath waiting for what happens next in Iran 
. I mean, think about it - one tiny country can cause such a ripple effect on the global market. It's like our individual actions can have such far-reaching consequences, you know? Like, we're all connected in this big web of economics and politics. And oil prices are just one example of that.
. It's like they're playing a game of cat and mouse with investors, trying to keep up appearances while still being realistic about their financials. But at the end of the day, it's all just numbers, right? The value of money is so abstract.
. Their stock price plummeted because of some disappointing results. It's like they're a reflection of our own fears and anxieties - we worry about diseases and treatments and whatnot, but sometimes the answers aren't what we want to hear.
I'm getting a bit worried about the state of our economy 
. These stock market fluctuations are making me nervous, especially with all the uncertainty surrounding inflation and interest rates 
. I just hope that these ups and downs don't affect their futures too much 
.
anyway, oil prices can't even get a break with Iran protests going on... it's like the world is just too unpredictable, you know? and those bank earnings reports? wow, some are killing it while others are tanking... like Wells Fargo expected to 'surpass expectations' but ended up getting roasted 
gold prices are also rising, which just goes to show how people are basically playing the game of " invest or lose your shirt" 
! Protests in Iran aren't helping the situation at all 
.
after their profit report, & biogen's shares tanked 6% 
what's goin on w/ biogen?? 
️
but honestly, im not really sure whats going on with these banks wells fargo dropped like 4.6%?! thats wild 
analysts are expecting earnings per share to be way up but biogen is like a total letdown 
Exxon mobil and conocoPhillips though, that's some good news 
. plus, biogen's disappointing results might be a blessing in disguise, you know? maybe it'll encourage other companies to innovate and find new ways to make money instead of relying on old formulas