US stocks declined on Monday after the US attacked Iran for the first time in weeks, fueling a rise in oil prices and increased bets that the Federal Reserve would raise interest rates at its September meeting.
The Dow Jones Industrial Average (^DJI) fell 0.7%, while the S&P 500 (^GSPC) declined by 0.3%. The tech-heavy Nasdaq Composite (^IXIC) dropped 0.1%, though all three major indexes posted solid gains for the month.
The S&P 500 gained more than 2.5% for the month, while the Nasdaq rose more than 3%. The Dow rose 1.3%.
Renewed hostilities in the Middle East put pressure on stocks after the US struck Iranian rocket launchers that were preparing to send mines into the Strait of Hormuz. Oil prices jumped on worries that the conflict could escalate again, with Brent crude futures (BZ=F) rising over $88 per barrel.
The ongoing war in Iran has been a key factor keeping inflation concerns alive. On Friday, Fed Chairman Kevin Warsh delivered a speech in Jackson Hole, Wyo., stating that inflation was running too hot and that the central bank has "work to do." Over the weekend, traders lifted their bets that the Fed would raise rates by 25 basis points at its next meeting to 62%, up from roughly 40% a week ago.
#declined
The Dow Jones Industrial Average (^DJI) fell 0.7%, while the S&P 500 (^GSPC) declined by 0.3%. The tech-heavy Nasdaq Composite (^IXIC) dropped 0.1%, though all three major indexes posted solid gains for the month.
The S&P 500 gained more than 2.5% for the month, while the Nasdaq rose more than 3%. The Dow rose 1.3%.
Renewed hostilities in the Middle East put pressure on stocks after the US struck Iranian rocket launchers that were preparing to send mines into the Strait of Hormuz. Oil prices jumped on worries that the conflict could escalate again, with Brent crude futures (BZ=F) rising over $88 per barrel.
The ongoing war in Iran has been a key factor keeping inflation concerns alive. On Friday, Fed Chairman Kevin Warsh delivered a speech in Jackson Hole, Wyo., stating that inflation was running too hot and that the central bank has "work to do." Over the weekend, traders lifted their bets that the Fed would raise rates by 25 basis points at its next meeting to 62%, up from roughly 40% a week ago.
#declined
14 days ago
