Oil Price Surge Sends Stocks Lower Amid Inflation Worries

Oil prices have surged to over $98 per barrel of Brent crude oil on Monday, causing pressure in the U.S. bond market and sending stocks lower.

The S&P 500 fell by 0.4% and gave back some of its gains from last week's rally, which had brought it close to its all-time high.

Wall Street's most influential stock, Nvidia, climbed after announcing a historic buyback plan that will send up to another $150 billion to its investors.