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that also gets them increased exposure to an oil producing nation," Beauchamp commented."This helps to explain in part why the greenback continues to do well against the yen."The dollar’s strength means silver and gold remain out of favour too, with a fresh test of $5000 looking likely.”US housing starts rose 7.2% in January, driven by a nearly 30% surge in multifamily construction, while single-family starts fell 2.8%.Analysts at Wells Fargo cautioned that the multifamily gain may overstate strength, as monthly starts are often volatile and subject to revisions.Meanwhile, single-family builders appear to be scaling back amid elevated inventories relative to sales. Permits for both single-family and multifamily units also declined, signaling that housing starts could remain subdued in the months ahead.Crude prices keep climbing, stoking worries that inflation might stay stubbornly high and shaping how the Federal Reserve approaches its monetary policy.Markets are now pricing in just a single interest rate cut later this year, a shift has sent US Treasury yields higher across the board, according to Bas Kooijman, CEO and Asset Manager of DHF Capital."While recent economic data continue to point to a resilient US economy, the near-term direction of equity markets is likely to remain dominated by geopolitical developments and energy prices," Kooijman commented Thursday."The latter could create some headwinds for the economy in case of prolonged disruptions in the Middle East. While energy and defense stocks could benefit from such conditions, concerns about inflation could continue to exert selling pressure on overall indices."US stocks opened lower as oil prices spiked north again.The Dow Jones dropped almost 600 points or 1.2% in initial trades. The S&P 500 fell 1.1% and the Nasdaq began with a fall of 1.4%.Biggest S&P fallers were led by consumer and travel stocks, with Dollar General down over 8% and cruise operators Carnival and Royal Caribbean also sharply lower.Financials and airlines were also weak, with Morgan Stanley, Goldman Sachs and Citigroup sliding, while Southwest and United Airlines fell as travel-related names came under pressure.Terms and Privacy PolicyPrivacy & Cookie SettingsMore InfoS&P 5006,632.19 -40.43 (-0.61%)Dow 3046,558.47 -119.38 (-0.26%)Nasdaq22,105.36 -206.62 (-0.93%)Russell 20002,480.05 -8.94 (-0.36%)VIX27.19 -0.10 (-0.37%)Gold5,023.10 -102.70 (-2.00%)Trending tickersADBE Adobe Inc. 249.32 -20.46 (-7.58%)BTC-USD Bitcoin USD 70,886.77 -1,066.72 (-1.48%)XYZ Block, Inc. 59.79 -0.11 (-0.18%)ULTA Ulta Beauty, Inc. 535.72 -88.98 (-14.24%)RBRK Rubrik, Inc. 53.43 -0.59 (-1.09%)PortfolioSign in to access your portfolioSign inTop gainersNP Neptune Insurance Holdings Inc. 21.87 +3.68 (+20.23%)PED PEDEVCO Corp. 18.18 +2.68 (+17.29%)VEON VEON Ltd. 50.60 +6.29 (+14.20%)KLAR Klarna Group plc 15.91 +1.29 (+8.82%)KYIV Kyivstar Group Ltd. 11.07 +0.87 (+8.53%)Top losersULTA Ulta Beauty, Inc. 535.72 -88.98 (-14.24%)MEOH Methanex Corporation 51.75 -6.31 (-10.87%)CACC Credit Acceptance Corporation 447.79 -46.21 (-9.35%)AAOI Applied Optoelectronics, Inc. 96.81 -9.38 (-8.83%)EQX Equinox Gold Corp. 14.57 -1.35 (-8.48%)Most activeNVDA NVIDIA Corporation 180.25 -2.91 (-1.59%)AAL American Airlines Group Inc. 10.30 -0.24 (-2.28%)NOK Nokia Oyj 8.24 +0.10 (+1.23%)BMNR Bitmine Immersion Technologies, Inc. 20.54 -0.01 (-0.05%)ONDS Ondas Inc. 10.16 -0.17 (-1.65%)Top economic eventsEarnings eventsMy earnings eventsEarnings events