Nasdaq Falls as Saudi Airport Attacks Drive Oil Higher Before Bank Earnings
๐ WALL ST โ Nasdaq drops as Saudi strikes push oil; earnings season can't help. ๐ LOOK CLOSER: Oil-driven cost pressure hitting equities is the mechanism markets resisted for weeks. Brent at $107 compresses margins across tech and consumer sectors simultaneously. Q3 earnings arrive as analysts must price in Hormuz-disrupted supply chains โ any guidance cut triggers forced repricing. The dual shock โ oil spiking, growth uncertain โ is what equity bulls had been betting wouldn't land together.