Stock Market Today: Dow Sinks 557 Points as Oil Shock Tests Wall Street’s Record Run
U.S. stocks fell Monday, with the S&P 500 down 0.4% and the Dow losing 557 points, after oil prices surged and fighting resumed near the Strait of Hormuz. Brent crude jumped 5.8% to $114.44 a barrel after the UAE reported an Iranian attack. The U.S. military said it sank six boats targeting civilian ships in the area. FedEx and UPS shares dropped over 9% after Amazon announced new supply chain services.