Falling oil prices help calm worries about inflation, and Wall Street rallies

Oil prices eased on Monday, helping calm Wall Street’s worries that inflation could worsen. Brent crude fell 5% to $83.49 a barrel after a weekend decision by President Donald Trump to hold off on new strikes against Iran, at the urging of regional allies. The decline reduced fears about crude tankers exiting the Persian Gulf, and Treasury yields moved lower. The 10-year Treasury yield dropped to 4.69% from 4.75% late Friday. U.S. stocks rose: the S&P 500 gained 1.5%, the Dow added 591 points (1.1%), and the Nasdaq climbed 2.2% by 1:57 p.m. ET.