Oil Price Spike Sparks Stocks Slide on Wall Street
Stocks fell on Wall Street as oil prices continued to rise, sparking concerns about stubbornly high inflation.
The S&P 500 index declined by 0.4%, while the Dow Jones Industrial Average dropped 164 points, or 0.3%, by 10:51 a.m. Eastern time.
The Nasdaq composite fell 0.7% in response to the rising oil prices and inflation worries.