S&P 500 Declines Amid Rising Oil Prices and Geopolitical Tensions
The S&P 500 fell 0.4% on Monday, influenced by escalating oil prices due to Middle East conflicts, while the Dow Jones Industrial Average edged up 0.1%.
On Monday, the S&P 500 declined by 0.4%, closing at 6,343.72, marking its third consecutive loss. The Nasdaq Composite also fell 0.7% to 20,794.64, while the Dow Jones Industrial Average edged up 0.1% to 45,216.14.
The downturn was influenced by escalating oil prices amid ongoing Middle East conflicts. Brent crude rose 3.3% to $116.25 per barrel following missile and drone attacks by Iran-backed Houthi militants over the weekend.
In the bond market, the 10-year Treasury note yielded 4.35%, and the two-year Treasury yield stood at 3.838%.
Investors are closely monitoring the situation, as prolonged geopolitical tensions could further impact global markets and energy prices.