2026-03-05T14:41:17-0500 / CBS/AP
股市周四暴跌，道琼斯工业平均指数因伊朗战争期间油价飙升而重挫逾1000点。能源价格上涨引发华尔街担忧，可能重新点燃美国的通胀压力。
截至美国东部时间下午2:14，道指下跌1014点，跌幅2.1%。广泛追踪市场表现的标准普尔500指数下跌1.2%，以科技股为主的纳斯达克综合指数下滑1.1%。
伊朗对以色列、美国基地及该地区多国发动新一轮袭击后，油价上涨。战争升级引发人们担忧该地区石油和天然气生产与运输中断的局面可能持续多久。
国际标准布伦特原油每桶上涨4.2%，至84.75美元，较上周收盘价70美元左右大幅攀升。美国基准原油每桶上涨6.9%，至79.80美元。
金融市场再次追随油价走势。投资者日益担忧，油价长期飙升可能削弱家庭消费能力，拖累全球经济，并推高利率。
牛津经济研究院经济学家伯纳德·亚罗斯和萨拉·戈弗雷在3月4日的研究报告中写道：”尽管当前汽油需求低迷，但冲突持续时间越长，家庭将越感受到油价上涨带来的压力。”
美国加油站油价因原油价格上涨而飙升。GasBuddy数据显示，全国平均每加仑汽油价格接近3.26美元，较上周上涨26美分。
能源数据公司伍德麦肯兹首席分析师西蒙·弗劳尔斯表示：”战争对天然气和液化天然气的影响难以预测，但其后果可能堪比2022年俄罗斯入侵乌克兰后的局势。关键取决于地区能源基础设施是否遭受重大破坏，以及供应中断是短暂波动还是长期趋势。”
历史市场表现
可以肯定的是，美国股市在中东及其他地区冲突后有快速反弹的历史。这一历史经验促使许多专业投资者建议保持耐心，静待市场波动平息。
富国银行投资研究所高级全球市场策略师斯科特·雷恩指出：”虽然局势进一步升级仍是风险，但更有可能的结果是市场避险情绪升温，这种情绪可能仅持续较短时间，直到投资者看到冲突降温的迹象。”
但若油价持续飙升（例如达到每桶100美元）并维持高位，全球经济可能难以承受。这种不确定性导致本周市场剧烈震荡，而霍尔木兹海峡的局势将是关键因素——全球约五分之一的石油通常通过伊朗海岸附近的这条狭窄水道运输。
零售股周四遭受美国股市最严重下跌。高油价意味着消费者在其他商品上的支出将减少。
尽管美国鹰牌服饰（American Eagle Outfitters）公布上季度利润和营收均超出分析师预期，但其股价仍下跌13.7%。
航空股同样大幅跳水。高油价增加了本已高昂的燃油成本，而战争导致数十万乘客在中东滞留。
美国航空下跌7%，联合航空下跌6.5%，达美航空下滑5.3%。
小盘股表现
与此同时，小盘股遭受最严重损失。当市场对经济增长和加息预期担忧加剧时，小盘股通常表现最差。罗素2000小盘股指数下跌2.7%。
若不是博通（Broadcom）股价上涨2.9%，华尔街跌幅可能更大。这家芯片公司公布上季度利润和营收超预期，股价逆势上扬。作为市值最大的科技股之一，博通是华尔街最具影响力的股票之一，首席执行官胡克·谭表示，公司受益于人工智能芯片收入74%的增长。
债券市场方面，由于油价上涨加剧通胀上行压力，美国国债收益率攀升，这可能阻碍美联储降息进程。
10年期美国国债收益率从周三收盘4.09%升至4.14%，较伊朗战争爆发前的3.97%显著上升。
美联储可能维持高利率以抑制通胀，但高利率也会增加美国家庭和企业的借贷成本，对经济造成下行压力。
美联储曾暗示计划在今年晚些时候恢复降息，希望提振就业市场和经济。但受战争和油价上涨影响，交易员已将美联储可能再次降息的时间预期推迟至夏季。
美国经济多项报告喜忧参半：
一项数据显示，上周申请失业救济的美国工人数量少于经济学家预期，这对就业市场而言是积极信号。
Dow plunges more than 1,000 points as surging oil prices renew inflation fears
2026-03-05T14:41:17-0500 / CBS/AP
Stocks plunged Thursday, with the Dow Jones Industrial Average tumbling more than 1,000 points as oil prices jumped amid the war with Iran. Higher energy prices are sparking concerns on Wall Street that they could reignite U.S. inflation.
The Dow tumbled 1,014 points, or 2.1%, as of 2:14 p.m. Eastern time. The broad-based S&P 500 shed 1.2%, while the tech-heavy Nasdaq composite declined 1.1%.
Oil prices rose after Iran launched a new wave of attacks against Israel, American bases and countries around the region. The war’s escalations are raising worries about how long disruptions to the production and transport of oil and natural gas in the region could last.
A barrel of Brent crude, the international standard, rose 4.2% to $84.75. That’s up from close to $70 late last week. A barrel of benchmark U.S. crude climbed 6.9% to $79.80.
Financial markets are again taking their cue from oil prices. Investors are growing concerned that a prolonged spike could strain households’ ability to spend, grind down the global economy and push interest rates higher.
“These events are unfolding while gasoline demand is low, but the longer the conflict lasts, the more households will feel the pinch from higher pump prices,” Oxford Economics economists Bernard Yaros and Sara Godfrey wrote in a March 4 research note.
Prices at U.S. gasoline pumps have already jumped due to higher oil prices. The average per-gallon price is nearly $3.26, up 26 cents per gallon from last week, according to GasBuddy.
“The consequences of the war for gas and liquefied natural gas are uncertain but could rival those that followed Russia’s invasion of Ukraine in 2022,” said Simon Flowers, chief analyst at energy data firm Wood Mackenzie. “Much will depend on whether the disruption is a short-lived blip or is more enduring, and whether gas and LNG infrastructure in the region suffers major damage.”
Historical performance
To be sure, the U.S. stock market has a history of bouncing back relatively quickly following conflicts in the Middle East and elsewhere. That history has led many professional investors to urge patience and ride out the market’s swings.
“While further escalation remains a risk, we think the more likely outcome is an increase in market risk aversion that likely lasts only a short time until investors can see a winding down of hostilities,” said Scott Wren, senior global market strategist at Wells Fargo Investment Institute.
But if oil prices spike — say, rising as high as $100 per barrel — and stay there, it could be too much for the global economy to withstand. Uncertainty about that has caused this week’s sharp swings, and much will depend on what happens with the Strait of Hormuz. Roughly a fifth of the world’s oil typically sails through the narrow waterway off Iran’s coast.
Stocks of retailers fell to some of the U.S. market’s worst losses on Thursday. High gasoline prices mean their customers would have less to spend on other things.
American Eagle Outfitters fell 13.7% even though it reported stronger profit and revenue for the latest quarter than analysts expected.
Airlines also took sharp losses. Higher oil prices are increasing their already big fuel bills, while the war has left hundreds of thousands of passengers stranded across the Middle East.
American Airlines lost 7%, United Airlines fell 6.5% and Delta Air Lines sank 5.3%.
Small company stocks
Stocks of small companies, meanwhile, took the heaviest losses. That’s typical when worries are growing about the strength of the economy and about interest rates rising. The Russell 2000 index of the smallest stocks fell 2.7%.
Wall Street’s drop would have been worse if not for Broadcom. The chip company’s stock rose 2.9% after it reported stronger profit and revenue for the latest quarter than analysts expected. It’s one of Wall Street’s most influential stocks because it’s one of the biggest by total value, and CEO Hock Tan said it benefited from a 74% jump in revenue for AI chips.
In the bond market, Treasury yields climbed as rising oil prices put more upward pressure on inflation, which could keep the Federal Reserve from cutting interest rates.
The yield on the 10-year Treasury rose to 4.14% from 4.09% late Wednesday and from just 3.97% before the war with Iran started.
The Fed could keep interest rates high to keep a lid on inflation. But high interest rates would also keep it more expensive for U.S. households and companies to borrow money, weighing on the economy.
The central bank had indicated it planned to resume cutting interest rates later this year, in hopes of giving a boost to the job market and economy. Because of the war and higher oil prices, traders have pushed their forecasts further into the summer for when the Fed could begin cutting rates again.
Several reports on the U.S. economy also came in mixed.
One said fewer U.S. workers filed for unemployment benefits last week than economists expected. That’s an encouraging signal for the job market.
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