U.S. stocks edge further from their records as oil prices keep swinging
Summary
U.S. stock markets fell slightly after recently reaching record highs, while oil prices moved up and down because of uncertainty about the war with Iran and its effect on oil supply. The S&P 500, Dow Jones, and Nasdaq all dropped, and Brent crude oil prices briefly rose above $90 before settling lower.Key Facts
- The S&P 500 index dropped by 0.3%, continuing a small decline after reaching an all-time high on Friday.
- The Dow Jones Industrial Average fell by 184 points, or 0.3%.
- The Nasdaq composite index decreased by 0.6%.
- Brent crude oil prices jumped above $90 per barrel in the morning.
- Later, Brent prices fell back below $87 before closing at $88.91.
- The price of Brent crude oil increased by 1.4% compared to the previous day.
- Oil price changes are linked to uncertainty about when the war with Iran will allow the free flow of crude oil again.
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