CNBC Daily Open: U.S. stocks dip and oil jumps as Iran, Fed independence concerns rise
CNBC • • business
Key Points:
- U.S. President Donald Trump announced he has canceled all meetings with Iranian officials and expressed support for anti-government protestors in Iran, signaling a halt to diplomatic efforts to address Tehran's crackdown on demonstrations.
- Oil prices surged over 2.5% as tensions with Iran, a major oil producer controlling the Strait of Hormuz, raised concerns about potential market instability.
- U.S. core consumer price index (CPI) for December rose less than expected, increasing 0.2% monthly and 2.6% annually, though inflation remains above target; however, U.S. stocks declined amid ongoing investor concerns.
- Trump renewed personal attacks on Federal Reserve Chair Jerome Powell, calling him "crooked" and a "jerk,"
