People walk past the Nasdaq MarketSite, Thursday, Aug. 6, 2026, in New York. (AP Photo/Yuki Iwamura)
\n\nA general view shows the New York Stock Exchange, Friday, Aug. 7, 2026, in New York. (AP Photo/Yuki Iwamura)
\n\nPeople walk in the rain near electronic stock board showing Japan’s Nikkei index at a securities firm Thursday, Aug. 13, 2026, in Tokyo. (AP Photo/Eugene Hoshiko)
\n\nNEWYORK (AP) — U.S. stocks edged further from their record heights on Monday after rising oil prices cranked up the pressure on inflation and financial markets.
\n\nThe S&P 500 fell 0.5% but remains near its all-time high set Thursday. The Dow Jones Industrial Average dropped 272 points, or 0.5%, and the Nasdaq composite slipped 0.3%.
\n\nWall Street’s losses solidified in the afternoon when oil prices accelerated upward. The price for a barrel of Brent crude, the international standard, rose 2.7% to $90.87.
\n\nIt’s been careening back and forth because of uncertainty about what the war with Iran will do to the global flow of crude. Last month alone, Brent zigzagged between $72 and $102 as hopes rose and fell that the United States and Iran could reach a deal that would allow oil tankers to freely exit the Persian…
Original source: https://apnews.com/business
