West Taxes intermediate crude plunges below $ 85 a barrel.
Stocks climbed as Treasury yields halted a surge that drove them to multiyear highs, while an oil selloff eased concern about further price pressures that could imperil the Federal Reserve’s war against inflation.
The S&P 500 rebounded from its lowest since mid-July, with every group but energy moving higher. At a presentation dubbed “Far Out,” Apple Inc. is set to unveil the iPhone 14 line, a fresh slate of smartwatches and new AirPods.
West Texas Intermediate crude slumped below $85 a barrel. A dollar gauge was little changed after a rally that rattled currencies around the globe and briefly drove gold