Commodities
US-Iran Tensions Send Oil Prices Soaring, Stocks Slumping
Wall Street closed out August on a downbeat note as stocks fell and oil prices rose after the US launched its first military action in a month against Iran.
The S&P 500 index fell 0.3%, while the Dow Jones Industrial Average dropped 0.7% and the Nasdaq composite slipped 0.1% on Monday.
Energy stocks, however, notched gains, with Exxon Mobil rising 2.7% and Chevron up 2.1%.
The US war with Iran remains a key focus for Wall Street, following a lull in activity that has lasted more than six months.