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Stocks fell on Monday after a weekend attack by a drone on a Saudi oil field took out half of the kingdom's production and sparked oil prices soaring for 11 years.
The three major averages recorded losses of at least 0.28%. The Dow Jones Industrial Average was the biggest loser, losing 0.54% or 146 points, while breaking its eight-day winning streak.
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| I: DJI | DOW JONES MEANS | 27076.82 | -142.70 | -0.52% |
| SP500 | S & P 500 | 2997.9 | -9.49 | -0.32% |
| I: COMP | COMPOUND INDEX NASDAQ | 8153.542864 | -23.17 | -0.28% |
The shares of airlines, including American Airlines, Delta Air Lines and Southwest Airlines, all declined due to soaring oil prices.
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| AAL | AMERICAN AIRLINES GROUP INC. | 27.77 | -2.18 | -7.28% |
| DAL | DELTA AIR LINES INC. | 59.07 | -0.94 | -1.57% |
| LUV | SOUTHWEST AIRLINES CO. | 55.80 | 0.01 | + 0.02% |
ExxonMobil, Chevron and other energy names have won the news.
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| XOM | EXXON MOBIL CORPORATION | 73.73 | +1.09 | + 1.50% |
| CLC | CHEVRON CORP. | 124.10 | 2.60 | + 2.14% |
Elsewhere, General Motors collapsed, with United Auto Workers having struck a strike for the first time in 12 years after both parties were unable to enter into a new contract. Discussions are expected to continue on Monday.
| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| GM | GENERAL MOTORS COMPANY | 37.20 | -1.66 | -4.27% |
West Texas Intermedite crude oil and Brent crude gained 14%, peaking at $ 62.53 and $ 68.65, respectively.
The attack on the Saudi Aramco plant halted production of 5.7 million barrels a day, more than half of Saudi Arabia's daily world exports. It also accounts for more than 5% of world crude oil production.
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The increased geopolitical risk has triggered a security flight to precious metals and American treasures.
Gold was up 0.72%, or $ 10.80, at $ 1,510.30 dollars an ounce.
The purchase of US Treasury securities lowered the 10-year yield by more than 6 basis points to 1.839%.
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Ken Martin of FOX Business contributed to this report.
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