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Stocks slide on inflation fears as oil climbs

Tech fell and oil rose, while investors grew concerned that oil supply disruption from the ongoing closure of the Strait of Hormuz could drive inflation.

Tasha Matsumoto

Stocks fell from records, with the S&P 500, Nasdaq 100, and Russell 2000 dropping on the day. The S&P 500 eked out a weekly gain — its seventh straight winning week — while the Nasdaq 100 and Russell 2000 finished the week lower as investors grow concerned that oil supply disruption from the ongoing closure of the Strait of Hormuz could drive up inflation.

Persistent inflation could, in turn, force the Fed to hike rates. Traders are now pricing in a 38% chance that the central bank’s next rate hike will occur before 2027, up from a 20% chance a week ago.

(Event contracts are offered through Robinhood Derivatives, LLC — probabilities referenced or sourced from KalshiEx LLC or ForecastEx LLC.)

Energy was the only sector to finish in the green as oil prices jumped after President Trump told Fox News that that he is “not going to be much more patient” with Iran. Materials was the worst performer.

Bitcoin gave back the bump it got from the CLARITY Act clearing the Senate Banking Committee on Thursday.

Stocks that moved higher:

Stocks that moved lower:

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