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Wall Street Opens Mixed as Biden Moves to Lower Oil Prices; Dow up 100 Pts -Breaking

by Mike Robinson

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© Reuters.

Geoffrey Smith 

Investing.com — Stock markets in the United States opened mixed Tuesday following President Joe Biden’s controversial measures to reduce oil prices. 

Biden announced that the U.S. will allow oil to be released from its strategic reserves by Japan, China, India, South Korea, and South Korea. The move is intended to relieve short-term demand for crude oil, which reached seven-year highs in the fall.

After weeks of leaks about the move, markets had already discounted it. Crude prices went up by over 2%, but they are still almost 10% lower than they were before the leaks. 

At 9:50 am ET (1350 GMT), it was up 101 points. That’s 0.3% of 35,721 points. The was up 0.2%, while the was down 0.2%.  

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