Dow Drops 780 Points Ahead of Jobs Report. Oil Hits Highest Settle Since 2024.

Core Viewpoint - The Dow Jones Industrial Average experienced a significant decline of 785 points, or 1.6%, amid rising oil prices, which reached their highest settlement since 2024 [1] Market Performance - The Dow dropped 785 points, recovering from a loss of 1,100 points during the trading session [1] - The S&P 500 index fell by 0.6% [1] - The Nasdaq Composite decreased by 0.3% [1] Oil Market - West Texas Intermediate crude oil futures surged by 8.5%, closing at $81.01 per barrel, marking the largest one-day percentage increase since May 14, 2020 [1] - This price represents the highest settlement for WTI crude since July 18, 2024 [1] - Brent crude oil futures, the international benchmark, rose by 4.9%, reaching $85.41 per barrel [1]