Wall Street’s major indexes fell on Wednesday as investors weighed a key inflation report and the decision to release an unprecedented amount of crude oil stockpiles to boost energy prices amid heightened tensions in the Middle East.

The Dow Jones Industrial Average fell 512.91 points (-1.08%) to 47,193.60, while the S&P 500 lost 33.70 points (-0.50%) to 6,747.78 and the Nasdaq Composite lost 47,193.60 points (-0.50%). 22,631.68.

A record release of oil from strategic reserves by members of the International Energy Agency failed to calm markets over the impact of the Middle East conflict, as crude prices continued to climb and equities fell after Iran’s military leadership warned on Wednesday that oil could rise to $200 a barrel.

Brent oil futures were up $90 to $92.56 a barrel while WTI crude futures were also up 5% at $88.96.

The International Energy Agency said its member nations would collectively release 400 million barrels of oil from strategic reserves to offset supply disruptions affecting shipments through the Strait of Hormuz.

Meanwhile, US President Donald Trump told media firm Axios that there was “practically nothing left” to target in Iran and that the war there would end soon.

Expectations of higher gasoline costs in anticipation of an escalating war in the Middle East began to be reflected in consumer prices in February, a Labor Department report showed.

Following the data, investors previously pushed back expectations of a 25-basis-point interest rate cut by the Federal Reserve from September to October, according to LSEG-compiled data.

Rising oil costs coupled with signs of softening in the job market are likely to further complicate the central bank’s monetary policymaking.

“There’s a lot of apprehension about all the economic data right now because some investors are thinking it could signal a turning point, especially with last week’s surprising job numbers,” said Peter Anderson, founder of Andersen Capital Management.

“Oil prices have kind of eclipsed any standard data that the market would trade on, because it’s so inconsistent with the volatility we’re seeing right now.”

Seven of the 11 S&P 500 sectors slipped, with consumer staples leading the losses with a 1.4% decline, while energy stocks rose 1.2%.

Oracle predicted that the AI ​​data center boom will power its revenue better than expected through 2027, sending its shares up 11.4%, and technology stocks also rose.

Investors were also watching the growth of the private credit space.

JPMorgan Chase has marked down the value of some loans held by private-credit groups and is tightening its lending to the sector, a report said.

Ares Management fell 4% and Apollo Global shed 1.5%.

Wall Street’s gauge of fear, the CBOE Volatility Index, was seen and was last down 0.42 points at 24.51.

Crude price-sensitive travel stocks such as Delta and cruise liner Carnival were down more than 1%.

Among others, oilfield services firm SLB was marginally lower after it said Middle East tensions would affect its first-quarter results.

Campbell fell 8.5% after cutting its annual forecast and warning of increased pressure in the second half of the year from revised US tariffs.

Defense company AeroEnvironment fell 5.3% after it missed 2026 adjusted profit estimates.

Declining issues outnumbered advancers by a 1.42-to-1 ratio on the NYSE and 1.03-to-1 on the Nasdaq.

The S&P 500 posted one new 52-week high and five new lows, while the Nasdaq Composite hit 25 new highs and 52 new lows. (Reporting by Johan M Cherian and Utkarsh Tushar Hathi in Bengaluru; Editing by Maju Samuel)