Commodities
Stocks Surge Near Record as Oil Prices Tumble
US stocks are rallying near their all-time high after falling oil prices eased Wall Street's worries about inflation.
The S&P 500 jumped 1.5% and is just 0.1% below its record set earlier this summer, with the Dow Jones Industrial Average up 649 points or 1.2%, and the Nasdaq composite 2.2% higher.
The price for a barrel of Brent crude sank 5% to $83.52 after President Donald Trump said he would hold off on new strikes against Iran at the urging of allies in the region, easing worries about the global flow of crude.
Higher yields threaten to undercut prices for stocks and other investments, while slowing the economy by making borrowing more expensive for U.S. households and businesses.