U.S. Stocks Pull Back as Oil Prices Weigh, Fed Concerns Simmer
U.S. stocks fell from record highs as renewed U.S.-Iran fighting pushed oil prices up and revived inflation fears, with the Dow dropping 581.84 points and the S&P 500 losing 0.74%; traders now price in over a 40% chance of a Fed rate hike by December, up from 9.1% a month ago, as rising yields and Middle East risks threaten margins and delay Fed easing.