Stocks drag markets down worldwide as oil prices climb to their highest since May

Markets fell worldwide on Thursday as losses in AI-related stocks weighed on sentiment, while oil climbed to its highest level since May amid renewed concerns over a possible war with Iran. The S&P 500 dropped 0.8% after sharper declines earlier in Asia, where many markets are concentrated in AI and other technology names. The Nasdaq composite fell 1.5% as of 10 a.m. Eastern, reflecting weakness in tech-heavy sectors. Outside technology, performance was comparatively better, with the Dow Jones Industrial Average down just 0.1%, or about 60 points. Oil’s rise added pressure to equities by keeping energy costs and risk premiums elevated.