New York stocks fall amid US-Iran tensions, oil prices hit monthly high

New York's stock markets concluded Tuesday's trading session with declines, primarily driven by escalating military tensions between the United States and Iran. The geopolitical uncertainty fueled a significant rise in international oil prices, creating investor apprehension.

The Dow Jones Industrial Average fell 0.01%, closing at 52,219.35. The S&P 500 lost 0.14% to end at 7,499.04, while the tech-heavy Nasdaq Composite dropped 0.57% to 25,690.90. Investors are closely monitoring the situation, concerned that rising energy prices could exacerbate inflationary pressures, potentially influencing the Federal Reserve's decisions on interest rates.

International oil prices saw a substantial increase following the U.S. military actions against Iran. Brent crude futures climbed over 3%, exceeding $94 a barrel and briefly touching $95 intra-day, marking a one-month high. West Texas Intermediate (WTI) futures also rose approximately 3%, surpassing $86 a barrel. U.S. Secretary of State Antony Blinken reportedly commented on the situation following the U.S. airstrikes.