Wall Street Falls 1% on Rising Oil and Credit Risks
Major US indexes fell on Thursday as oil prices neared $100. Investors also weighed private credit risks after Morgan Stanley limited fund redemptions.
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Major stock indexes in the United States fell sharply on Thursday as a combination of rising energy costs and concerns over the private credit market dampened investor enthusiasm. The Dow Jones Industrial Average dropped 582.01 points, or 1.23%, to 46,835.26, while the S&P 500 lost 1.12% and the Nasdaq Composite shed 1.38%. Market volatility, as measured by the CBOE volatility index, rose significantly as geopolitical risks intensified.
