Dow falls as oil prices climb on renewed Iran conflict fears

U.S. stocks fell on Monday as renewed tensions in the Middle East pushed oil prices higher and raised concerns about regional instability. The Dow Jones Industrial Average dropped more than 500 points, while the S&P 500 and Nasdaq also traded lower. The move followed reports that the United Arab Emirates intercepted missiles fired from Iran, along with conflicting accounts about attacks on ships near the Strait of Hormuz. U.S. officials later said no Navy ships had been struck. Oil futures jumped on the news, with both West Texas Intermediate and Brent crude rising sharply. The market reaction also reflected investor concern that higher energy costs and shipping disruptions could affect inflation and the broader economic outlook. Some energy stocks held up better than the rest of the market, while logistics shares fell after Amazon announced a new freight and shipping service for businesses.