Commodities
US Stocks Fall Below Records as Oil Prices Surge
The US stock market slipped below its all-time high on Monday as oil prices rose due to uncertainty about when the Strait of Hormuz could reopen.
The S&P 500 fell 0.1%, while the Dow Jones Industrial Average dropped 0.1% and the Nasdaq composite lost 0.3%. Berkshire Hathaway's stock rose 1.4% after it became the latest US company to top analysts' profit expectations.
Technology stocks weighed on the market, with Nvidia falling 2.5% and Apple dropping 2%. Intel fell 3.4% after announcing plans to sell $15 billion of its stock to raise cash for investments in artificial-intelligence technology.