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S&P 500 and Nasdaq slump as Dow rises on oil shock and hotter inflation
Economy
Published on 13 May 2026
Crude spikes from US Iran tensions while CPI hits a peak
US stocks closed mixed on May 12 as cooling tech momentum pulled the S&P 500 and Nasdaq lower, while the Dow edged higher. West Texas Intermediate crude jumped amid renewed US-Iran tensions, adding pressure to energy costs. Fresh data showed April CPI rising to its highest level since May 2023, keeping consumer inflation concerns front and center.
- S&P 500 and Nasdaq fell while the Dow gained at close
- Oil surged on renewed US-Iran tensions
- April CPI rose to its highest level since May 2023
- Hotter inflation and energy prices weighed on tech momentum
Read the full story at The Economic Times
This summarization was done by Beige for a story published on 
The Economic Times