The war in the Middle East causes declines on Wall Street, and the price of WTI crude exceeds 100 dollars per barrel, fueling fears of stagflation.

Amid the intensification of the conflict in the Middle East, Wall Street opened lower, with the Dow Jones index falling by 1.33%, the S&P 500 by 1.24%, and the Nasdaq Composite by 1.18%. The price of West Texas Intermediate (WTI) crude oil rose by 10%, reaching $100.20 per barrel, which has raised concerns among investors that the U.S. could enter stagflation.

Oil production in the Middle Eastern countries has been reduced due to the conflict, and G7 nations, including the U.S., are discussing a coordinated release of oil from strategic reserves. Analyst Tom Essaye emphasized that maintaining oil prices at this level could impact long-term stocks.