US-Iran Tensions Ease, Leading to Mixed Stock Market and Plummeting Oil Prices

Stocks on Wall Street closed mixed on Monday as oil prices dropped following a pause in US-Iran hostilities and renewed efforts to restart negotiations.

The S&P 500 rose less than 0.1% after fluctuating throughout the day, while the Dow Jones Industrial Average increased by 0.5%. The Nasdaq composite fell 0.2%, its fourth consecutive loss.

Oil prices reversed their sharp increase from last week, with Brent crude decreasing by 6.3% to settle at $85.87 a barrel for October delivery and US crude oil dropping 7.5% to $82.61 a barrel.