US Stocks Slide as Oil Prices Soar After Iran Strike

US stock markets declined and oil prices surged on Monday after American forces struck Iranian rocket launchers in the Strait of Hormuz, marking the first military action in a month.

The price of Brent crude rose 2.5% to $91.10 per barrel, while US benchmark crude oil jumped 3.6% to $86.40 per barrel.

The S&P 500 slipped 0.3%, the Dow Jones Industrial Average dropped 282 points or 0.5%, and the Nasdaq fell 0.1%.

GameStop surged more than 5% before the market opened after providing a preliminary second-quarter earnings outlook above its year-ago results, while shares of Aon fell slightly due to its acquisition of USI Insurance Services.