Major indexes slip as soaring oil nears $100 mark | Northwest Arkansas Democrat-Gazette

U.S. stocks fell Tuesday as trading resumed after a three-day weekend, with the latest fighting in the war with Iran lifting oil prices and weighing on sentiment. The S&P 500 dropped 0.6%. The Dow Jones Industrial Average fell 628 points, or 1.2%, while the Nasdaq composite slipped 0.3%. The move followed a spike in Brent crude, which briefly rose to $99.46 a barrel before settling at $97.92, up 0.9%. The climb comes as higher oil costs intensify worries that inflation remains too high. That matters because two inflation reports are scheduled later this week: Thursday’s wholesale measure is expected to accelerate to 5.4% from 4.7%, and Friday’s consumer-focused reading is forecast to ease to 3.3% from 3.4%.