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BUSINESSJul 29 · 18:29 UTCWPLG LOCAL 10 MIAMIBy STAN CHOE, Associated Press

Oil prices jump following fighting with Iran, while sinking AI stocks drag Wall Street lower

Oil prices surged 7.2% due to renewed fighting between Iran and U.S.-backed forces in the Middle East, while declining technology stocks, including Nvidia and SK Hynix, dragged Wall Street indices lower. The S&P 500 fell 0.5%, the Dow dropped 1.6%, and the Nasdaq declined 0.4% amid concerns over inflation and AI sector profitability.

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Mentioned
IranplaceUnited States militaryorganizationSaudi ArabiaplaceBrent crudetopicNvidiaorganizationAdvanced Micro DevicesorganizationSK HynixorganizationSamsung ElectronicsorganizationS&P 500topicDow Jones Industrial AveragetopicNasdaq Compositetopic
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