Wall Street Stocks Drift as US-Iran Tensions Ease, Oil Prices Plummet

Stocks on Wall Street closed in mixed fashion Monday, as the US and Iran paused their attacks and negotiations to end the war resumed.

The S&P 500 ended the day with a tiny gain of less than 0.1%, while the Dow Jones Industrial Average rose by 0.5%.

Oil prices fell sharply, with Brent crude dropping 6.3% to $85.87 per barrel after surging as high as $102 last week.

The decrease in oil prices is likely due to the reduced tensions between the US and Iran, which had previously caused worries about global oil supplies.

Markets in Europe rose after closing higher in Asia on Monday.