Dow Falls After U.S.-Iran Strikes; August Gains Remain Intact
U.S. stocks declined on Monday following military strikes by American forces against Iranian rocket launchers, marking the first such action in about a month. The Dow Jones Industrial Average dropped over 359 points (0.7%), with Goldman Sachs and Alphabet among the top performers dragging down the index. Oil prices rose sharply as tensions escalated, with West Texas Intermediate crude climbing more than $85 per barrel and Brent crude topping $90 per barrel. Despite Monday's losses, major stock indexes are still on track to end August in positive territory. The Dow has gained over 1% since the start of the month, while the S&P 500 and Nasdaq Composite have each risen by roughly 2% and 3%, respectively—marking their first monthly gains since May. Technology stocks were a key driver during the month's rally.
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Topics: dow_jones oil_prices stock_market u.s.-iran_conflict