Commodities
Wall Street Stocks Waver as Oil Prices Drop Amid Mideast Tensions Easing
Stocks on Wall Street wavered on Monday as oil prices fell after the US and Iran paused their attacks, allowing work to resume on restarting negotiations to end the war.
The S&P 500 index fell 0.2%, while the Dow Jones Industrial Average rose 218 points, or 0.4%. The Nasdaq composite declined 0.6%.
Oil prices dropped 5.5% to $86.60 a barrel for October delivery after surging to over $100 a barrel last week due to concerns about global oil supplies.
The war between the US and Iran has curtailed traffic through the vital Strait of Hormuz, affecting shipping costs and gasoline prices worldwide.