US stocks today: Wall Street in red as crude prices jump; Nasdaq tumbles over 100 points, Dow trades flat

Global markets experienced a downturn as oil prices surged due to renewed fears of escalating Middle East conflict. Iran’s closure of the Strait of Hormuz, following alleged ceasefire breaches, has unsettled investors. This uncertainty looms as crucial negotiations between Iran and the US approach, with Tehran indicating reluctance to participate under current conditions.