New York —
Stocks fell and global oil prices settled at $100 per barrel for the first time since 2022 as the effective closure of the Strait of Hormuz continued to roil markets.
The major US stock indexes each closed lower by more than 1.5%, extending a recent bout of volatility. The Dow fell 739 points, or 1.56%. The S&P 500 dropped 1.52%, and the tech-heavy Nasdaq Composite sank 1.78%, as the war with Iran stokes fears of higher energy costs and disruptions to the global economy.
US crude oil prices surged 9.72% to