DOW SLIDES!…OIL SURGES PAST $100…
Stock futures plunged to start the week as U.S. oil topped $100 a barrel, raising concern about a stagflationary environment for the U.S. economy of rising inflation and slowing growth…
Stock futures sharply declined at the start of the week amid a surge in oil prices, with U.S. crude crossing $100 a barrel for the first time since 2022 due to supply cuts by Middle Eastern producers and geopolitical tensions, raising fears of stagflation—a combination of rising inflation and slowing growth. Major indices, including the Dow, S&P 500, and Nasdaq, fell significantly, with the Dow futures dropping over 595 points, and the volatility index surging above 30 for the first time in nearly a year. Oil prices initially spiked above $119 per barrel before receding slightly, driven by reduced output from Kuwait and Iraq amid ongoing Strait of Hormuz closures, with international benchmarks climbing even higher. The market’s nervousness was compounded by reports of potential strategic reserve releases by G7 nations, as investors worry that sustained high oil prices could threaten economic stability unless the Ukraine conflict resolves quickly.
📰 Via Cnbc
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This Day in History
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Edgardo Mortara Kidnapped from Jewish Family after Secret Baptism (1858)June 23, 2026
Mortara, the son of a Jewish couple living in the Papal States, was secretly baptized Catholic as an infant by a panicked servant during an infantile illness. The baptism was deemed valid by the Catholic Church and, because canon law forbade non-Christians from raising Christian children, Pope Pius IX ordered the six-year-old Mortara to be taken to Rome as his ward. Several countries objected to the pope's decision and called for the boy to be returned to his parents. What became of Mortara?
Mortara, the son of a Jewish couple living in the Papal States, was secretly baptized Catholic as an infant by a panicked servant during an infantile illness. The baptism was deemed valid by the Catholic Church and, because canon law forbade non-Christians from raising Christian children, Pope Pius IX ordered the six-year-old Mortara to be taken to Rome as his ward. Several countries objected to the pope's decision and called for the boy to be returned to his parents. What became of Mortara?Today’s Birthday
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Erich Maria Remarque (1898)June 22, 2026
Drafted into the German army at age 18, Remarque served in World War I and was wounded several times. From his experience of trench warfare, he drew a grimly realistic picture of the horror of battle in his first novel and masterpiece, All Quiet on the Western Front. It was an immediate international success, and Remarque went on to write several other novels. All Quiet on the Western Front was later burned by the Nazis, who guillotined which of his family members in 1943?
Drafted into the German army at age 18, Remarque served in World War I and was wounded several times. From his experience of trench warfare, he drew a grimly realistic picture of the horror of battle in his first novel and masterpiece, All Quiet on the Western Front. It was an immediate international success, and Remarque went on to write several other novels. All Quiet on the Western Front was later burned by the Nazis, who guillotined which of his family members in 1943?Today’s Holiday
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Stonehenge Summer Solstice CeremonyJune 23, 2026
Stonehenge, the ancient stone circle located in Wiltshire, England, is believed to have been built between about 3050 and 1600 BCE. At the Summer Solstice, when viewed from the center of the monument, the sun rises through the entrance and just between two of the large stones. Today, modern Druids and other Neopagans gather at Stonehenge for Summer Solstice ceremonies. Wearing white robes and scarlet hoods, when the first rays of the rising sun shine on the Altar Stone, they walk in procession around the circle, gathering at the Altar Stone to recite prayers and salute the rising sun.
Article of the Day
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The Bucket ArgumentJune 22, 2026
In addition to establishing the foundations of classical mechanics and introducing his law of universal gravitation, Isaac Newton's 1687 text The Mathematical Principles of Natural Philosophy explored his rotating bucket argument, which has been studied by scientists for centuries. In it, he opposed the dominant view of motion—devised by Rene Descartes—that space is actually the extension of matter. How did Newton use a hypothetical bucket to try to make his point?
In addition to establishing the foundations of classical mechanics and introducing his law of universal gravitation, Isaac Newton's 1687 text The Mathematical Principles of Natural Philosophy explored his rotating bucket argument, which has been studied by scientists for centuries. In it, he opposed the dominant view of motion—devised by Rene Descartes—that space is actually the extension of matter. How did Newton use a hypothetical bucket to try to make his point?
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