Commodities
Oil Prices Soar Above $100 Amid Escalating Tensions Between US and Iran
Stocks plummeted on Wall Street as oil prices surged past $100 a barrel due to escalating tensions between the US and Iran.
The S&P 500 index fell 0.3%, with the Dow Jones Industrial Average declining by 311 points, or 0.6%, at 10:45 am Eastern time.
Retailers were among the hardest hit, with Amazon dropping 1.8% and Starbucks falling 1.5%.
Oil companies saw a different trend, however, with Exxon Mobil rising 1.9% and Chevron increasing by 1.6%.