US Stock Market Pressured by Rising Oil Prices Amid Iran Tensions
Written by Emily J. Thompson, Senior Investment Analyst
Updated: May 21 2026
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Source: NASDAQ.COM
- Oil Price Surge Impacts Market: The S&P 500 index fell 0.35%, the Dow Jones Industrial Average dropped 0.11%, and the Nasdaq 100 index decreased 0.51% as crude oil prices rose over 2% due to tensions between the US and Iran, indicating market concerns over potential energy supply disruptions.
- Mixed Economic Data: Initial US weekly unemployment claims fell by 3,000 to 209,000, close to expectations, while the May Philadelphia Fed business outlook survey unexpectedly dropped to -0.4, reflecting uncertainty in economic recovery that could affect investor confidence.
- Weak Performance in Tech Stocks: Nvidia's earnings beat expectations but its stock fell over 1% amid rising competition, and Intuit plummeted more than 19% due to revenue falling short of forecasts, highlighting challenges within the tech sector.
- International Market Volatility: Overseas markets showed mixed results, with the Euro Stoxx 50 down 0.02%, China's Shanghai Composite falling 2.04%, while Japan's Nikkei index rose 3.14%, reflecting global economic uncertainty and divergent investor sentiment.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
