Stocks | Oil Tops $100 As Middle East Tensions Weigh On Wall Street

Middle East fighting intensified, stoking fears of further disruption to crude supply and pushing international oil prices back above $100 a barrel on the 9th, according to ETNet. The rise in U.S. Treasury yields also lifted risk aversion, sending the three major U.S. stock indexes lower. The Dow Jones Industrial Average fell 405.41 points, or 0.77%, to 52,380.66; the S&P 500 dropped 37.16 points, or 0.48%, to 7,636.36; and the Nasdaq Composite declined 168.07 points, or 0.64%, to 26,253.34. Hong Kong's Hang Seng Index closed at 24,954, down 320 points, or 1.3%, on turnover of HK$198.9 billion. Elsewhere, the European Central Bank is due to announce its rate decision and hold a news conference at 8:45 PM Hong Kong time, while ECB President Christine Lagarde will discuss the latest monetary policy decision on a podcast at 10:15 PM. The G7 Speakers' Summit is scheduled for 1:00 AM on the 11th. On data releases, the euro zone is expected to announce its official benchmark rate at 8:15 PM, seen rising from 2.4% to 2.65%. At 8:30 PM, the U.S. will publish continuing jobless claims, expected to edge up from 1.779 million to 1.78 million, August producer price index figures, and initial jobless claims. At 10:00 PM, the U.S. will release July wholesale inventories, wholesale trade data and August existing home sales. Macy's is among the companies reporting earnings in the U.S. today.