Wall Street faced heavy selling pressure in its first trading session after former President Jimmy Carter's funeral, as a series of economic developments rattled interest rate and energy markets, sparking heightened risk aversion among investors.The U.S.economy added 256,000 jobs in December, far exceeding expectations of a slowdown to 160,000.
Adding to market turmoil, oil prices — as tracked by the United States Oil Fund (NYSE:USO) — surged more than 3% to $76 per barrel after the Biden administration imposed stricter sanctions on Russian oil exports.
These measures targeted major Russian oil companies, shadow fleet tankers and opaque trading networks, intensifying pressure on Moscow’s energy revenues.
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