Wall Street Stocks Waver Amid Oil Price Drop and Mideast Tensions

Stocks on Wall Street experienced a mixed close Monday as oil prices dropped after the US and Iran paused their attacks, while work resumed on restarting negotiations to end the war. The S&P 500 rose less than 0.1%, with the Dow Jones Industrial Average rising 0.5% and the Nasdaq composite falling 0.2%. This comes after two weekly losses for the S&P 500.

The price of Brent crude, the international standard, dropped 6.3% to settle at $85.87 a barrel for October delivery. US crude oil for September delivery fell 7.5% to settle at $82.61 a barrel. The war between the US and Iran has had a ripple effect throughout the world's economy, curbing traffic through the vital Strait of Hormuz and driving up gasoline prices.

Markets closed higher in Europe and Asia, while bond yields fell with the yield on the 10-year Treasury falling to 4.65% from 4.69%. Technology companies were behind much of the shifts in the market, with gains and losses for a mix of big companies resulting in uncertain trading.