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US stocks fall on Middle East tensions
U.S. stock indices declined significantly amid ongoing concerns over Middle Eastern developments and rising oil prices, with the S&P 500 dropping by 0.2%, the Nasdaq by 0.1%, while the Dow Jones Industrial Average fell approximately 464 points (0.9%). Oil prices soared following reports of a potential Iranian plan to prevent American and Israeli ships from passing through the Strait of Hormuz, amid news of progress in negotiations to reopen the strait, with Iran and Oman agreeing not to impose tolls on transit during a temporary agreement.
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