World News

US stocks tumble, oil tops $100 as Mideast conflict escalates

Published

1 month ago

July 23, 2026

Joseph Imo

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Wall Street stocks have tumbled as oil prices shot higher on worsening effects of the US-Iran war, while Tesla and Google parent Alphabet fell sharply after earnings reports.

International oil benchmark Brent North Sea crude topped $100 a barrel on Thursday after Yemen’s Iran-backed Houthi rebels struck oil tankers in the Red Sea. The attack brought the war roiling the Middle East to a new front.

Alphabet dropped about six percent while Tesla slid more than 10 percent, reflecting investor angst over hefty capital spending investments on new technologies.

About 15 minutes into trading, the Dow Jones Industrial Average was down 0.8 percent to 51,783.21.

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Joseph Imo

I am a seasoned journalist known for my incisive reporting and unwavering commitment to journalistic integrity. As a key member of the nop.ng team, I specialize in delivering balanced coverage of socio political developments and cultural affairs throughout Nigeria. Driven by a passion for uncovering the truth regardless of the complexity of the issue I have established myself as a trusted voice in Nigeria’s dynamic media landscape, continually striving to empower my audience with clear, contextually rich news.