Commodities
Oil Prices Rise as US Hits Iranian Sites for First Time in a Month
The price of oil has risen after the US launched its first military action in a month against Iran. The S&P 500 index fell by 0.5% and the Dow Jones Industrial Average dropped 361 points, or 0.7%, as of 10:50 am Eastern time.
The Strait of Hormuz was targeted by American forces, which has led to an increase in oil prices. This is the first military action taken by the US against Iran in a month and has caused stocks to fall.