> Oil prices flip-flop and US stocks drift as Wall Street waits for Iran's reaction to US strikes
Oil prices flip-flop and US stocks drift as Wall Street waits for Iran's reaction to US strikes
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Description
Oil prices are flip-flopping, and the U.S. stock market is holding relatively steady following the United States’ bunker-busting entry into Israel’s war with Iran.
Oil jumped as much as 4% shortly after trading began on Sunday night, but it quickly pared most of the gain by Monday morning.
The S&P 500 edged down by 0.1%. The Dow Jones Industrial Average dipped 37 points, and the Nasdaq composite fell 0.4%.
Markets calmed amid hopes that Iran will not retaliate in a way that disrupts the global flow of crude, which would hurt economies worldwide but also its own.