Oil prices rise and US stocks give back a bit of their record-breaking rally
NEW YORK (AP) — Oil prices climbed Monday following the latest rise of tensions between the United States and Iran, but the moves were more modest than they were earlier in the war. U.S. stocks, meanwhile, gave back a bit of their record-breaking rally.
The S&P 500 slipped 0.3% from its all-time high and is on track for just its second drop in 14 days after the United States seized an Iranian-flagged cargo vessel that it said had tried to evade its blockade of Iranian ports. The Dow Jones Industrial Average was down 37 points, or 0.1%, with less than an hour remaining in trading, and the Nasdaq composite was 0.3% lower.
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