Market Rally Stalls as Geopolitical Tensions Spike

Market Rally Stalls as Geopolitical Tensions Spike
Wall Street's momentum hit a wall Monday as geopolitical tensions in the Strait of Hormuz overshadowed strong earnings and declining oil prices. The S&P 500 and Nasdaq had posted record closes Friday, buoyed by Apple's earnings beat and hopes of a ceasefire that pushed oil prices lower. However, the positive sentiment evaporated quickly as Middle East concerns resurfaced, reminding investors that economic gains can be derailed by unexpected global events. Energy markets responded sharply to the renewed tensions, potentially reversing the recent downward pressure on oil prices that had supported the market's advance.