Big Tech, Surging Oil Prices Fuel Wall Street Selloff

Wall Street suffered another sharp selloff Thursday as rising oil prices, surging Treasury yields, and disappointing Big Tech earnings rattled investors. The Dow Jones Industrial Average (DJI), Nasdaq Composite Index (IXIC), and S&P 500 Index (SPX) all finished firmly lower, with Alphabet (GOOGL) and Tesla (TSLA) leading the post-earnings tech rout. Wall Street's "fear gauge," the Cboe Volatility Index (VIX) surged 16.5% for its best daily pop since June 5. 

Brent crude topped $100 per barrel after reports of attacks on Saudi oil tankers in the Red Sea and President Trump's continued threats against Iran. Meanwhile, weekly jobless claims unexpectedly fell to 187,000, their lowest level since September 1969.

Continue reading for more on today's market, including: 

5 Things to Know Today

1. According to the U.S. Food & Drug Administration (FDA), Midwest Poultry Services is ‌recalling nearly 1.6 million eggs due to potential salmonella. (Reuters)
2. Three separate railroad stocks hit 52-week highs after strong second-quarter earnings results today.(Stocktwits)
3. CapEx guidance overshadows strong quarterly report from Alphabet. 
4. Analysts react to disappointing Tesla earnings. 
5. Back to the basics: how monthly and weekly options differ.