Business
Dow Drops 780 Points Ahead of Jobs Report. Oil Hits Highest Settle Since 2024.
The Dow dropped 785 points, or 1.6%. A late rebound lifted the index from an 1,100-point hole. The S&P 500 fell 0.6%. The Nasdaq Composite dropped 0.3%.
West Texas Intermediate crude oil futures spiked 8.5% to $81.01 a barrel, which is its biggest one-day percentage gain since May 14, 2020, and its highest settlement since July 18, 2024, according to Dow Jones Market Data. Brent crude oil futures, the international benchmark, rose 4.9% to $85.41 a barrel.