Update: Nasdaq Snaps 3-Day Winning Streak as Oil Jumps Amid US-Iran Tensions
(Updates with market moves at the end of the day.) Equities on Wall Street fell Monday, snapping a three-day winning streak for the technology-heavy Nasdaq Composite, as oil prices rallied amid a re-escalation in the US-Iran conflict. The Nasdaq shed 1.6% to close at 25,873.2, while the S&P 500 lost 0.8% to 7,515.8. The Dow Jones Industrial Average dropped 0.3% to 52,498.6. Among sectors, tech saw the steepest decline, down 2.1%, while energy led the gainers with a 3.2% advance. West Texas Intermediate crude was up 8.8% at $77.72 a barrel in Monday late-afternoon trade, while Brent gained 9.2% to $82.97. The US and Iran continued to exchange airstrikes over the weekend, with Tehran targeting American military facilities across Middle Eastern countries, news outlets reported. Iran's Islamic Revolutionary Guard Corps reportedly said it closed the crucial Strait of Hormuz until further notice, though the US military disputed the claim. The strait is open and will remain so "with or without Iran," President Donald Trump said in a social media post Monday, adding that the US was reinstating a blockade of Iranian shipping through the narrow waterway. Hostilities between the US.
(Updates with market moves at the end of the day.) Equities on Wall Street fell Monday, snapping a three-day winning streak for the technology-heavy Nasdaq Composite, as oil prices rallied amid a re-escalation in the US-Iran conflict.
The Nasdaq shed 1.6% to close at 25,873.2, while the S&P 500 lost 0.8% to 7,515.8.
The Dow Jones Industrial Average dropped 0.3% to 52,498.6.
Among sectors, tech saw the steepest decline, down 2.1%, while energy led the gainers with a 3.2% advance.
West Texas Intermediate crude was up 8.8% at $77.72 a barrel in Monday late-afternoon trade, while Brent gained 9.2% to $82.97.
The US and Iran continued to exchange airstrikes over the weekend, with Tehran targeting American military facilities across Middle Eastern countries, news outlets reported.
Iran's Islamic Revolutionary Guard Corps reportedly said it closed the crucial Strait of Hormuz until further notice, though the US military disputed the claim.
The strait is open and will remain so "with or without Iran," President Donald Trump said in a social media post Monday, adding that the US was reinstating a blockade of Iranian shipping through the narrow waterway.
Hostilities between the US.