Oil Surges Nearly 9% as US-Iran Tensions Boil Over, Sinking Chips and Testing Wall Street's Nerve
Stocks fell Monday as a weekend US-Iran escalation sent oil surging nearly 9% and the VIX up almost 14%. The S&P 500 lost 0.79%, the Nasdaq dropped 1.55% on chip weakness, while energy cushioned the Dow. Bank earnings and CPI headline Tuesday's session.