Stocks Decline as Oil Prices Rise and U.S. Job Growth Slows

Stocks opened sharply lower as a weak U.S. labor market report revealed a loss of 92,000 jobs in February, falling short of expectations for growth. The S&P 500 dropped 1.2%, while the Dow Jones fell 1.3% and the Nasdaq decreased by 1%. Meanwhile, oil prices surged due to fears the Iran war could disrupt global supply, with West Texas Intermediate rising 9.5% to $88.74 per barrel. This economic uncertainty complicates the Federal Reserve’s interest rate decisions amid rising inflation pressures.

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