Market News Today October 12 - Oil Climbs After New Tanker Attacks, Nasdaq Slips and Bitcoin Falls Below $83,000

Two oil tankers have just been hit near the world’s most important shipping lane for oil, and that kind of news has a habit of showing up at the gas pump.

Markets react to dozens of headlines every day, so we have picked out the ones that matter most for your money and put them in one place.

Oil is climbing again, the Nasdaq is slipping, and Bitcoin has dropped back below $83,000.

It all starts at the Strait of Hormuz.

Why Are Oil Prices Rising Again? New Tanker Attacks Near the Strait of Hormuz

Just as oil had started to calm down, the Strait of Hormuz delivered another shock.

Two tankers were attacked over the weekend, one struck by a drone near Sohar in Oman and another damaged while sailing through the strait, while Yemen’s Houthis stepped up strikes on Saudi Arabia, including a deadly attack on Riyadh’s main airport. Brent crude, the global benchmark, climbed to around $106 a barrel, and U.S. crude rose above $93.

Hopes for relief from Europe faded too, after Russia struck Ukrainian power plants just days after President Trump said both sides had agreed to stop targeting each other’s energy sites.

Higher oil feeds straight into gasoline, diesel and the cost of shipping almost everything you buy, and it lands just before Wednesday’s inflation report, which will help decide whether the Fed raises rates again.

As long as ships keep getting hit, any relief at the pump stays fragile.

Why Is the Nasdaq Falling Today?

Rising oil and stubborn borrowing costs are a tough mix for the market’s most expensive stocks, and that is exactly where the selling showed up.

The tech-heavy Nasdaq slipped about 0.4% on Monday, while the Dow rose about 0.5% and the S&P 500 was roughly flat, a week after both the S&P 500 and Nasdaq set record highs. Chipmakers Nvidia and AMD added to the pressure after Microsoft unveiled its own AI chip.

Investors pay up for tech stocks because of the profits they expect years from now, and higher interest rates make those future profits worth less today. With Treasury yields still near their highest level since 2002, there is little room for bad news.

This week brings the first big test of earnings season, with the major banks reporting, plus Wednesday’s inflation numbers. For anyone with a 401(k) leaning heavily on tech, it is a week to watch closely.

Why Is the Bitcoin Price Falling Below $83,000?

Bitcoin, which often trades like a high-risk tech stock, felt the same pressure.

It slipped about 1.2% to around $82,800 on Monday, leaving it down roughly 4% over the past week and about 28% below where it traded a year ago. Investors pulled about $681 million out of U.S. Bitcoin funds last week, and high oil prices and Treasury yields near 5.3% are draining appetite for riskier bets.

For anyone who bought in the past year, the drop is a reminder that Bitcoin now moves with the same forces as the rest of the market, not against them.

Wednesday’s inflation report could decide its next move as much as anything happening in the digital asset world itself.

Oil, Stocks and Bitcoin All Moved Today. The Early Money Moved First.

Two tanker attacks were enough to move oil, tech stocks and Bitcoin in a single morning, and moments like this are often when the next big winners quietly take shape. By the time it feels obvious to everyone, the early money has usually already moved.

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