U.S. Stocks Slide as Oil Prices Surge Following Iranian Strikes

U.S. stocks fell on Monday as investors reacted to the surge in oil prices following U.S. strikes against Iranian targets near the Strait of Hormuz.

The S&P 500 dropped approximately 0.3%, while the Dow and Nasdaq declined by nearly 0.5% and 0.1%, respectively.

The sharp increase in WTI crude oil prices, which rose by 3.6% to $86.40, was a major factor contributing to the decline in stocks.

Energy sector stocks, however, performed better than the broader market, with Chevron, ConocoPhillips, and Occidental Petroleum seeing their shares rise as oil prices increased.