Wall Street falls from its records and oil prices jump after fighting flares in the Middle East
The U.S. stock market fell from its record heights on Monday, with the S&P 500 sinking 0.4%, while oil prices jumped 5.8% to $114.44 following escalations in the Middle East. The Dow Jones Industrial Average dropped 557 points, or 1.1%, and the Nasdaq composite slipped 0.2%.
The U.S. stock market fell on Monday, with the S&P 500 sinking 0.4% to 7,200.75. The Dow Jones Industrial Average dropped 557.37 points to 48,941.90. Oil prices jumped 5.8% to $114.44 after the United Arab Emirates reported an attack by Iran. The U.S. military said it sank six small boats while setting up an 'enhanced security area' for ships crossing the Strait of Hormuz. Companies like Tyson Foods and Norwegian Cruise Line Holdings reported mixed results, while UPS and FedEx fell after Amazon announced a move that could cut into their businesses. GameStop slumped after announcing a bid to buy eBay.
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