US stocks fall as Dow Jones sheds 300 points

US stocks closed in red on Monday, pressured by rising oil prices and treasury yields, as investors continued to assess the inflationary and economic risks stemming from the Iran war.

The Dow Jones Industrial Average inched down 0.60%, or 307 points, to finish at 51,839.

The broader S&P 500 fell 0.2%, or 14 points, to 7,443 points, while the Nasdaq Composite remained stable at 25,508.

In Europe, the Stoxx Europe 600 index edged down 0.30% to 639.6 points.

Meanwhile, the UK’s FTSE 100 dropped 0.70% to 10,524 points, Germany’s DAX and France’s CAC 40 remained unchanged at 24,846 points, and 8,340 points, respectively.

In Japan, the Tokyo Stock Exchange was closed on Monday in observance of Marine Day, with trading scheduled to resume on Tuesday.

On oil, Brent crude futures for September delivery added 1.3%, or $1.12, to $89.22 a barrel at close.

Meanwhile, US WTI futures for August delivery rose 0.9%, or $0.74, to $83.23 a barrel.

As for gold, futures for August delivery remained stable at $4,019 an ounce at close.

Stocks came under pressure from rising US treasury yields amid the ongoing conflict in the Middle East, which in turn pushed energy prices higher.