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War Drums: Fears Over Syrian Conflict Knock Stocks, Oil Way Up

Business

U.S. stocks took a bad downward Tuesday, pushed lower by growing fears over possible U.S. involvement in Syria.

The price of U.S. crude, on the other hand, jumped $3.09 to nearly $109.01 a barrel, an 18-month high:

Brent crude also did well, closing at a six-month high of $114.42:

Meanwhile, the Dow Jones industrial average closed at its lowest point in two months, losing 170 points, or 1.1 percent, to close at 14,776:

The Standard & Poor's 500 index fell 26 points, or 1.6 percent, to 1,630:

And the Nasdaq composite fell 79 points, or 2.2 percent, to 3,578:

Airline stocks fell as the jump in the price of crude brought “the threat of higher fuel costs,” the Associated Press notes.

“Six stocks fell for every one that rose on the New York Stock Exchange. Volume was about average, 3.2 billion shares,” the report adds.

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Featured image AP photo.

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