US-Iran Tensions Ease, Oil Prices Fall as Wall Street Stocks Mixed

On Monday, Wall Street stocks closed in a mixed bag as tensions between the US and Iran eased. The S&P 500 rose less than 0.1% after spending much of the day oscillating between small gains and losses.

The Dow Jones Industrial Average increased by 0.5%, while the Nasdaq composite dropped 0.2%, marking its fourth consecutive loss.

Brent crude, the international standard oil price, plummeted 6.3% to settle at $85.87 a barrel for October delivery. U.S. crude oil prices also fell by 7.5% to settle at $82.61 a barrel for September delivery.

Investors are closely monitoring the situation as high inflation has been squeezing household budgets, particularly due to rising gasoline costs.