S&P 500, Dow Fall as Oil Surges to $83.23 Over Iran Crisis

US5000.44%
US300.24%
NAS1001.25%
SMH0.15%
NVDA0.36%
According to President Donald Trump's Truth Social post warning Iran would face retaliation for three U.S. service members' deaths, oil prices surged on Monday, July 21, with U.S. crude rising 0.9% to $83.23 per barrel and Brent gaining 1.3% to $89.22. The gains in oil prices triggered broader market losses, with the S&P 500 falling 0.2% to close at 7,443.28 and the Dow Jones Industrial Average dropping 0.6% to 51,839.26. The Nasdaq 100 ended flat at 28,604.23. Meanwhile, semiconductor stocks rebounded, with the VanEck Semiconductor ETF climbing 0.3%, supported by strength in Nvidia, Advanced Micro Devices, Micron Technology, and Broadcom shares.
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