Wall Street Stocks Waver as Oil Prices Drop Amid US-Iran Tensions Easing
Stocks on Wall Street ended mixed on Monday as oil prices dropped following a pause in US-Iran tensions and progress in restarting negotiations.
The S&P 500 rose less than 0.1% after spending much of the day fluctuating between small gains and losses, recovering from two consecutive weekly losses.
The Dow Jones Industrial Average increased by 0.5%, while the Nasdaq composite fell 0.2%, marking its fourth straight loss.
Oil prices reversed course from last week's sharp escalation in fighting between the US and Iran, which had worsened concerns about global oil supplies.
Brent crude dropped 6.3% to settle at $85.87 a barrel for October delivery, while U.S. crude oil for September delivery fell 7.5% to $82.61 a barrel.
Markets closed higher in Europe and Asia, with bond yields falling as the yield on the 10-year Treasury decreased to 4.65% from 4.69% late Friday.