U.S. Stocks Fall for Second Day as Oil Prices Surge Amid U.S.-Iran Hostilities

U.S. equity markets experienced a second consecutive day of declines, with the S&P 500, Dow Jones, Nasdaq, and Russell 2000 all closing lower. This downturn is attributed to renewed U.S.-Iran hostilities in the Strait of Hormuz, which led to a jump in West Texas Intermediate (WTI) crude oil prices past $90 per barrel, fueling geopolitical uncertainty and inflation concerns. The S&P 500 fell 0.71% to 7,631.47, the Dow Jones lost 0.79% to 52,766.88, the Nasdaq declined 1.03% to 26,099.77, and the Russell 2000 was down 1.23% to 2,920.13.