Oil prices have surged following renewed fighting between Iran and US forces in the Middle East.
The price of Brent crude jumped 7.2% to $88.03 per barrel, while the S&P 500 fell 0.5% after earlier dropping as much as 1.2%.
The Dow Jones Industrial Average was down 825 points, or 1.6%, and the Nasdaq composite was 0.4% lower.
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