Commodities
Fed Stays Neutral on Rates Amid Oil Price Volatility
Oil prices surged 7.3% to $88.09 per barrel after fighting resumed in the war between Iran and another country, raising concerns about global oil supply.
The price of Brent crude had been volatile in recent weeks, swinging from a low of $72 early this month to a high of $102 last week as uncertainty around US-Iran deal talks weighed on markets.
In contrast, US stocks experienced a mixed day. The S&P 500 fell 1.5% after trading sharply between gains and losses in the final hour of trading.
The Dow Jones Industrial Average dropped 2.2%, with Nvidia being the heaviest weight on the S&P 500 after it fell 3.6%.