Commodities
Oil Price Surge Knocks US Stocks Off Course
Oil prices continued their upward trend on Monday, reaching $98.87 per barrel for Brent crude oil and putting pressure on US stocks.
The S&P 500 fell 0.5%, while the Dow Jones Industrial Average dropped 329 points, or 0.6%, as of 9:35 a.m. Eastern time.
Nvidia's stock rose 3.5% after announcing a plan to send up to another $150 billion to its shareholders in a stock buyback program.
The uncertainty surrounding the Strait of Hormuz and Iran's nuclear program continues to impact oil prices, which have risen 1.5% since Friday.