Commodities
Wall Street Stocks Waver as Mideast Tensions Ease
Stocks on Wall Street experienced a mixed day of trading on Monday as investors responded to the reduced tensions between the US and Iran.
The S&P 500 index slipped 0.2% after two consecutive weekly losses, while the Dow Jones Industrial Average rose 218 points or 0.4% as of 10:37 am ET.
The price of Brent crude oil, the international standard, dropped 5.5% to $86.60 a barrel for October delivery, reversing last week's surge above $100 a barrel.
This decline is significant because it has had a ripple effect on global economies, with gasoline prices rising and shipping costs increasing due to the war's impact on the Strait of Hormuz.