Wall Street slides as Gulf tensions push oil above $99

Wall Street opened lower on Thursday, with the Nasdaq 100 falling 1.6% amid rising oil prices and geopolitical tensions in the Persian Gulf. Iran reported four ships were hit and three struck mines near the Strait of Hormuz, blaming US policies for encouraging vessels to use mined routes. Oil prices jumped, with WTI at $99.40 and Brent at $112 per barrel. US crude stockpiles fell more than expected, and Houthi threats prompted US evacuations from Saudi Arabia. Major companies reported earnings: Meta beat forecasts with $64.6 billion in revenue, Tesla's results were mixed, and IBM, Texas Instruments, Procter & Gamble, and Honeywell all exceeded expectations.