DBI Today: 49.8 (−4.2)
Markets held near record territory on Thursday but the fuel that powered Wednesday's historic close — thatGlobal markets caught a case of nerves. Washington revoked the licence that had allowed Iran to sell oil, sending crude jumping more than 5% in a single session and raising the threat level around the Strait of Hormuz — the narrow waterway that carries about a fifth of the world's oil — to "severe." Today's Daily Business Index, our daily 0–100 gauge of global business health where 50 marks neutral, reads 49.8, down 4.2 points. That's a bigger move than usual, and it wasn't one story doing the damage — it was two. A chip-stock selloff that started in Seoul and Tokyo spread to Wall Street, pulling US indices down from record territory just a day after the Dow had touched a fresh all-time high.
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