US Stock Market Declines Amid Rising Oil Prices and Iran Uncertainty

The US stock market closed mostly lower on Monday amid rising oil prices due to uncertainty over the conflict with Iran. The Dow Jones Industrial Average fell by 0.11 percent, or 60.95 points, to close at 53,975.98.

Chip companies also felt pressure, with Intel and Nvidia experiencing declines of more than 4% and 2.8%, respectively. Apple shares weakened by 1.5%. The tech sector's weakness was a significant contributor to the overall market decline.

Oil prices surged on Monday, with US benchmark crude West Texas Intermediate (WTI) rising 5.1% to $82.2 per barrel and Brent, the international benchmark, increasing by 5% to $87.7 per barrel.