Stock Market Update Tuesday October 1, 2024 Stocks declined sharply today, with volatility surging as geopolitical tensions in the Middle East intensified. Oil and gold prices surged as the conflict escalated, while concerns over a port strike reignited inflation fears. The broader economic impact will depend on the duration of the strike. The S&P 500 retreated 0.93%, the Nasdaq Composite fell 1.53%, and the Russell 2000 dropped 1.49%. Technology was the hardest-hit sector, down over 2%, while the energy sector bucked the trend, rising 2% on the day.
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