Crude oil draw exceeds expectations
A private inventory survey showed a significant decline in crude oil stocks.
The draw was much greater than expected, with a decrease of 3.4 million barrels anticipated.
The S&P 500 and Nasdaq experienced volatility, with the latter plunging 3% as tech valuations faced selling pressure.
Chipmakers led the S&P 500’s rally, eyeing the best two-day gain, while the $10.6 billion GSK buyout of Nuvalent fueled a valuation surge.