Oil Prices Reach $100 a Barrel Amid Red Sea Conflict

Oil prices surpassed $100 per barrel following attacks by Houthi forces targeting Saudi tankers in the Red Sea. This price milestone contributes to a broader market decline, particularly affecting technology stocks. As oil futures jump, U.S. stocks are experiencing pressure, with notable drops in major tech companies. The increase in oil prices may impact inflation and consumer spending, making it a significant event for investors.