US stocks open lower as Brent crude nears $100, Amgen weighs on Dow

Published Sep 8, 05:52 PM UTC

Editorial responsibility

Prepared by: WorldAttention Editorial Systems
Human review: No named human review is recorded for this page.
Automated steps: Source reporting is collected, normalized, translated or condensed automatically when needed.
Page status: Automatically published source-backed update

How automation and AI are used · Report a correction or rights issue

U.S. stock markets opened lower on a holiday-shortened week, with the Dow Jones Industrial Average falling over 1% and the S&P 500 and Nasdaq also declining. The sell-off was driven by a spike in oil prices, with Brent crude edging toward $100 a barrel following attacks on Saudi Arabia. Additionally, pharmaceutical stocks stumbled, with Amgen weighing heavily on the Dow after disappointing results. Investors are also awaiting key U.S. inflation data later in the week, which could influence Federal Reserve policy. The combination of rising energy costs, geopolitical tensions, and sector-specific weakness led to broad market pullbacks, as reported by multiple financial news outlets including WSJ, MarketWatch, and Investor's Business Daily.

Source report

Market Overview

U.S. stock markets opened lower on Monday, with the Dow Jones Industrial Average falling sharply as oil prices surged toward the $100 per barrel mark. The S&P 500 and Nasdaq also declined amid rising geopolitical tensions and a slump in pharmaceutical stocks.

Key Headlines

Dow tumbles 1%, with the S&P 500 and Nasdaq dropping as Brent crude edges toward $100 a barrel and pharma stocks stumble. (MarketWatch)
Oil spikes after Saudi attacks, while Amgen swoons on key results. (Investor's Business Daily)
Stock index futures mixed as oil nears $100 and U.S. inflation data is awaited. (barchart.com)
Indexes pull back to start the holiday-shortened week as oil prices rise; Amgen weighs on the Dow. (Investopedia)

Market Drivers

Oil prices: Brent crude approached the $100 per barrel threshold, driven by attacks on Saudi oil facilities.
Pharmaceutical stocks: Amgen suffered a sharp decline following disappointing results, dragging down the Dow.
Inflation data: Investors are awaiting upcoming U.S. inflation figures, which could influence Federal Reserve policy.

Sources

WSJ
MarketWatch
Investor's Business Daily
barchart.com
Investopedia

Source

Part of this Story

Stock Market Falls as Oil Nears $100 and Amgen Drags Down Dow

See the full Story: all sources and camp coverage

People and interests

NASDAQ