Specialists Dilip Patel works on the floor of the New York Stock Exchange, Thursday, Aug. 27, 2026, in New York. (AP Photo/Yuki Iwamura)
NEW YORK (AP) — U.S. stocks fell Tuesday in their return to trading from a three-day weekend after the latest fighting in the war with Iran pushed oil prices higher.
The S&P 500 sank 0.6%. The Dow Jones Industrial Average dropped 628 points, or 1.2%, and the Nasdaq composite dipped 0.3%.
They felt pressure from rising oil prices after a barrel of Brent crude briefly climbed as high as $99.46. It later settled at $97.92, up 0.9%, to continue its run from roughly $72 in early July as increased fighting in the Middle East keeps the global flow of oil constricted.
More expensive oil has worsened worries about the high inflation weighing on people and companies across the country, which gives extra heft to a couple reports coming later this week. On Thursday, the U.S. government will release its August report for inflation at the wholesale level, which economists expect will show an acceleration to 5.4% from 4.7% in July.
