The U.S. stock market fell from its records after oil prices yo-yoed.
The price for a barrel of Brent crude oil settled at roughly $100 Thursday and continued its decline from more than $115 early this week. But it swung sharply before getting there, as investors wait to see whether their hopes for a deal to end the Iran war are warranted or just wishful.
As oil prices pared their drops in the afternoon, stocks fell on Wall Street. The S&P 500 slipped 0.4% from its all-time high. The Dow Jones Industrial Average dipped 0.6%, and the Nasdaq fell 0.1%.
On Thursday:
The S&P 500 fell 28.01 points, or 0.4%, to 7,337.11.
The Dow Jones Industrial Average fell 313.62 points, or 0.6%, to 49,596.97
The Nasdaq composite fell 32.75 points, or 0.1%, to 25,806.20.
The Russell 2000 index of smaller companies fell 47.15 points, or 1.6% to 2,839.63.
For the week:
The S&P 500 is up 106.99 points, or 1.5%.
The Dow is up 97.70 points, or 0.2%.
The Nasdaq is up 691.75 points, or 2.8%.
The Russell 2000 is up 26.80 points, or 1%.
For the year:
The S&P 500 is up 491.61 points, or 7.2%.
The Dow is up 1,533.68 points, or 3.2%.
The Nasdaq is up 2,564.21 points, or 11%.
The Russell 2000 is up 357.72 points, or 14.4%.
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