Dow Drops as Iran Tensions Escalate Oil Prices

The Dow Jones Industrial Average plummeted by 0.56% on Monday as tensions between the US and Iran escalated, sparking concerns about global oil prices.

Despite a price cut for its Model 3 electric car in Hong Kong and Macau, Tesla was up 5.2%, but that wasn't enough to offset the losses of other major stocks.

The Iran war had been simmering throughout August, with Brent crude prices jumping 2.8% to above $90 a barrel on Monday.

Energy stocks rose by 0.9%, while all other sectors posted declines, with Goldman Sachs and Caterpillar being the biggest contributors to the Dow's losses.