Stocks took a major hit as oil prices surged past $100 a barrel, fueled by escalating Middle East tensions and attacks on tankers—sparking fears of supply disruptions and economic fallout. Disappointing earnings from big names like Tesla, which missed targets and saw shares crash, added to the sell-off. The VIX spiked, reflecting rising anxiety, while markets now expect the Fed to raise rates next month, potentially tightening credit and slowing growth.
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