The US stock market declined as oil prices surged following renewed military strikes between the United States and Iran. Over the weekend, US strikes on Iranian targets were met with retaliation by Iran against US bases in Jordan and the UAE. This escalation has reignited concerns about potential disruptions to the Strait of Hormuz, a critical passage for global energy supplies. Analysts anticipate crude oil could reach a new all-time high, signaling increased market volatility in the coming weeks.
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