Markets Extend Downturn | Closing Bell

• US equity markets (S&P 500, Dow Jones, Nasdaq, Russell 2000) closed down, reflecting a risk-off sentiment.
• Oil prices surged, with Brent hitting $100/barrel, driven by geopolitical tensions and concerns about a global energy crunch.
• United Airlines (UAL) beat Q1 EPS and revenue but significantly cut its full-year EPS guidance due to higher fuel costs and capacity adjustments, causing its stock to drop.
• Capital One Financial (COF) reported mixed Q1 results, with higher-than-expected credit loss provisions, suggesting potential consumer weakness and a cautious outlook.
• Energy was the only S&P 500 sector in the green, while Industrials, Health Care, Consumer Discretionary, and Communication Services were among the biggest losers.

US equity markets closed broadly lower, reflecting a risk-off sentiment driven by geopolitical tensions and surging oil prices. United Airlines cut its full-year earnings guidance due to higher fuel costs, while Capital One reported increased credit loss provisions, signaling potential consumer weakness. The energy sector was the only one in the green.