US Stock Market Today: Dow Sinks as Oil Shock Tests Wall Street’s Record Run
The Dow fell nearly 450 points Monday as tensions near the Strait of Hormuz sent oil prices up 5% to $113.91 a barrel. Iranian reports claimed missiles hit a U.S. vessel, which the U.S. denied, while the UAE said it intercepted Iranian missiles. Most S&P 500 sectors dropped, and volatility rose. Amazon expanded its supply-chain business, hitting UPS and FedEx shares; GameStop proposed a $56 billion bid for eBay.