US shares lower amid Iran war concerns, unexpected payrolls drop
(Il Sole 24 Ore Radiocor) - Milano, 6 mar - US shares were off session lows but continued trading lower as oil prices continued to rise after Qatar's energy minister told the Financial Times today that Gulf energy producers may be forced to call force majeure on production in coming days in a move that could take oil prices to 150 dollars a barrel.
The WTI benchmark was up 12.43% to 91.08 dollars per barrel.
As the conflict between the US and Iran entered its seventh day, US president Donald Trump said there would be no deal to end the US war against Iran without an 'unconditional surrender' by Iran.
Trump also said he would work to bring Iran back making it 'economically bigger, better, and stronger than ever before.' Investors also reacted to a key jobs report which came in well short of expectations.
The February payrolls report unexpectedly fell by 92,000, easily missing expectations for a rise of 55,000, an indication the US jobs market continues to struggle. The unemployment rate also rose to 4.4% from 4.3% the previous month.
At 1835 GMT, the Dow Jones was down 505.11 points, or 1.05%, at 47,449.63 points.
The S&P 500 was 67.39 points, or 0.99%, lower at 6,763.32 points.
The Nasdaq was losing 199.08 points, or 0.88%, at 22,548.91.
points.
(RADIOCOR) 06-03-26 19:38:49 (0625) 5 NNNN