Stocks
US Stocks Fall as Oil Prices Hit $100 a Barrel Amid Iran Tensions
Stocks on Wall Street fell for the second day in a row as oil prices rose above $100 a barrel, driven by escalating tensions between the US and Iran.
The S&P 500 index dropped 0.5%, with Amazon falling 1.8% and Starbucks losing 1.9%. Energy stocks were the only sector to gain ground, with Exxon Mobil rising 2.2% and Chevron adding 1.9%.
The Iran war has led to a sharp increase in oil prices since it began in February, causing inflation concerns for the US economy.
President Donald Trump said that the conflict will likely keep oil prices elevated through the US midterm elections in November.