- US stocks fell in early trade on September 9 amid inflation concerns
- Brent crude surpassed $100 a barrel, increasing rate hike fears
- Dow Jones dropped 0.51% to 52,517.47 by 9:33 am ET
US stocks slipped in early trade on Wednesday, September 9 as investors focus on inflation risks with Brent crude crossing $100 a barrel, raising possibility of a hike in global interest rates.
Dow Jones declined 0.51% or 326 points to 52,517.47, S&P 500 stayed 0.31% down at 7,649.81, while Nasdaq fell 0.29% at 29,420.69 by 9:33 am ET.
This decline in US stocks come for the second consecutive session as global crude oil prices rallied, gaining for the third straight week after Iran-backed Houthis attacked Saudi energy facilities and Tehran threatened the US with 'economic warfare'. Brent crude futures last rose 2.55% to $100.3 per barrel. The US West Texas Intermediate crude was at $94.19 per barrel, up 1.16%.
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Brent crude earlier rose as much as $100.45 per barrel, its highest since July 24, while WTI reached $94.60 per barrel, its highest since June 8.
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