Finance Evening: Oil Tops $100, Mortgage Rates Cross 7%, ECB Hikes to 2.5%

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Finance Evening: Oil Tops $100, Mortgage Rates Cross 7%, ECB Hikes to 2.5%Finance Evening
2026-09-10

Finance Evening: Oil Tops $100, Mortgage Rates Cross 7%, ECB Hikes to 2.5%

U.S. stocks closed lower for a fourth straight session, with the Dow off more than 300 points. Oil topped $100 a barrel as Middle East tensions escalated, while the 30-year mortgage rate crossed 7% for the first time in over a year. The ECB raised rates to 2.5%, and markets priced a roughly 70% chance of a Fed hike next week. Oracle beat estimates, Nasdaq invested $100 million in Kraken's parent, and Ford pledged $1 billion for its Kentucky plant.

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