Oil surges to its highest price since 2023, and stocks drop after U.S. jobs report

Oil surges to its highest price since 2023, and stocks drop after U.S. jobs report NEW YORK — Oil prices touched their highest levels since 2023 after surging again Friday because of the Iran war, while a weak update on the U.S. job market highlighted the economy's precarious position. The two trends raised the risk of a worst-case scenario for financial markets, and stocks fell as they neared the finish of a punishing week. The S&P 500 dropped 1.1% after a report showed U.S. employers cut more jobs last month than they created and after oil prices spiked above $90 per barrel. It's a combinati

Oil surges to its highest price since 2023, and stocks drop after U.S. jobs report NEW YORK — Oil prices touched their highest levels since 2023 after surging again Friday because of the Iran war, while a weak update on the U.S. job market highlighted the economy's precarious position. The two trends raised the risk of a worst-case scenario for financial markets, and stocks fell as they neared the finish of a punishing week. The S&P 500 dropped 1.1% after a report showed U.S. employers cut more jobs last month than they created and after oil prices spiked above $90 per barrel. It's a combinati