World shares are mixed and US futures slip
Wall Street indices fell on Monday as investors reacted to U.S. military actions against Iran and potential regulatory lawsuits against Amazon. Energy stocks saw gains, while utility companies faced significant losses due to wildfire-related legal concerns.
Why it matters
Geopolitical tensions in the Strait of Hormuz and regulatory scrutiny of big tech are creating significant market volatility.
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Wall Street closed out August on a downbeat note Monday as stocks fell and the price of oil rose after the U.S. launched its first military action in a month against Iran.
The S&P 500 index fell 0.3%. The Dow Jones Industrial Average dropped 0.7% and the Nasdaq composite slipped 0.1%.
August had no shortage of turbulence for the market, but the S&P 500 and Nasdaq each posted a gain for the month after losing ground in July and June. The Dow, meanwhile, managed its fifth-straight monthly gain.
Monday’s losses were broad, with nearly every sector within the benchmark S&P 500 finishing in the red. Energy stocks, though, notched gains. Exxon Mobil rose 2.7% and Chevron rose 2.1%.
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