The early decline for stocks was driven by a surge in oil prices following a national address late Wednesday from President Donald Trump. Oil prices eased slightly during the day, but still remain elevated well above $100 per barrel. A barrel of U.S. crude oil rose 11.3% to $111.54, though prices rose close to $114 at one point during the day. Crude oil prices have been the main force behind the sharp swings for stocks globally. Brent crude oil futures are typically priced higher than those for U.S. crude oil, but the war flipped that on its head.

Source: Huffington Post April 02, 2026 14:38 UTC