Energy stocks spiked while the rest of Wall Street fell on Monday after weekend attacks on Saudi Arabia's oil facilities added to investors' concerns about geopolitical risk and a slowing global economy.
Oil prices jumped on Monday after attacks on crude facilities in Saudi Arabia sliced the kingdom's production in half and sparked worries over the impact of an oil shock on economic growth, halting a positive run in world stock markets as investors reached for less-risky assets.
The weekend bombings of Saudi Arabia's main oil refinery have already sparked U.S. President Donald Trump to pressure the Federal Reserve anew to lower rates.
Possible U.S. tariffs against Airbus aircraft and European parts are unlikely to have a major impact on the European planemaker's 2019 results, but disruption cannot be ruled out, its chief executive said.
U.S. Energy Secretary Rick Perry said on Monday it was too soon to say whether the United States would tap emergency oil reserves after attacks in Saudi Arabia halved the crude output in the world's largest oil exporter.
An attack on Saudi Arabia's Aramco oil facilities was a reciprocal measure by "Yemeni people" to assaults on this country, said Iranian President Hassan Rouhani on Monday, hours after a Saudi-led coalition said the attacks were carried out with Iranian weapons.
Federal prosecutors on Monday accused three J.P. Morgan precious metals traders of fraud in an alleged spoofing scheme.
Shares of defense companies rise after the United States military is put on alert by President Trump.
An attack on Saudi Arabia that triggered the biggest jump in oil prices in almost 30 years was carried out with Iranian weapons, a Saudi-led coalition said on Monday, as President Donald Trump said the United States was "locked and loaded" to hit back.
Saudi Arabia will invite international experts including from the United Nations to participate in investigating an attack on its oil facilities and called on the world to condemn those behind it, its foreign ministry said on Monday.
Members of the U.S. Congress blasted Iran after the attack on Saudi Arabian oil facilities, but expressed wariness about U.S. military action, especially before they have a clearer picture of who was behind it.
U.S. crude export demand at the Gulf Coast surged on Monday, traders said, as the window to export crude profitably to Asia and Europe was thrown open after attacks on Saudi Arabia's oil facilities took out 5% of global oil supplies.
OxyContin maker Purdue Pharma LP filed for bankruptcy protection after reaching a partial deal to resolve more than 2,600 lawsuits alleging it helped fuel the U.S. opioid crisis.
Britain will work with its international partners on the "widest and most effective" response to an attack on Saudi Arabia at the weekend, Foreign Secretary Dominic Raab said on Monday.
U.S. Defense Secretary Mark Esper said on Monday the recent attack on Saudi Arabian oil facilities was "unprecedented" and the United States, along with its allies, was working to defend the "international rules-based order that is being undermined by Iran."