Wall Street Treads Water as Oil Prices Plummet

The US-Iran war tensions have eased slightly, leading to mixed closing numbers on Wall Street. The S&P 500 rose less than 0.1%, but the Dow Jones Industrial Average gained 0.5%.

Oil prices fell sharply, with Brent crude plummeting 6.3% to $85.87 a barrel for October delivery and US crude oil dropping 7.5% to $82.61 a barrel.

The war has had significant economic impacts, including surging gasoline prices and rising shipping costs. The Federal Reserve is set to update its interest rate policy on Wednesday, with investors expecting a nearly 36% chance of a rate hike this week.