Live Nasdaq Composite: Market Turmoil Persists With All Eyes On $100 Oil

"The markets are starting the week the way they ended last week - under pressure. All three of the major stock market averages are reeling, including a 1% decline in the Nasdaq Composite out of the gate. The tech-heavy index is being pressured by the likes of ASML Holding, Google parent Alphabet and Meta Platforms, to name a few."

"The story of the day is oil, which has been soaring over the weekend to surpass the $100/barrel threshold, revisiting a level it has not seen since 2022. Oil prices are being driven higher by the Mideast turmoil, more specifically the effectual closure of the Strait of Hormuz, preventing the passage of critical oil tankers through the Persian Gulf."

"Hims & Hers Health stock is skyrocketing by over 37% after Novo Nordisk confirmed it will sell Wegovy and Ozempic on the Hims & Hers platform. Shots and the Wegovy pill will be available on Hims later this month. As part of the deal, Hims will no longer advertise cheaper compounded GLP-1 drugs."

Major stock market indices opened the week under pressure, with the Nasdaq Composite down 0.93%, the S&P 500 falling 1.05%, and the Dow Jones Industrial Average declining 1.17%. Tech stocks including ASML, Alphabet, and Meta are driving losses. Oil prices have surged above $100 per barrel for the first time since 2022, driven by Middle East turmoil and the effective closure of the Strait of Hormuz, disrupting critical oil tanker passage through the Persian Gulf. Notable market movers include Hims & Hers Health stock soaring 37% following Novo Nordisk's agreement to sell Wegovy and Ozempic through the platform. Additionally, Nasdaq is partnering with crypto exchange Kraken to offer 24/7 tokenized stock trading on blockchain infrastructure.

Read at 24/7 Wall St.