Oil Prices Soar, Markets Sink: The Unwelcome Return of Geopolitics to Wall Street The stock market's downward trend has been a familiar refrain in recent months.
Yesterday's losses were particularly ominous, with the Dow, S&P 500, and Nasdaq all taking a hit as oil prices surged past $100 for the first time since February.
The jump in oil prices is linked to ongoing tensions between the US and Iran. The latest escalation came when the US struck five Iranian oil tankers, sending shockwaves through energy markets.