Dow Jones falls 370 points as Goldman Sachs, Alphabet tumble
Business
The Dow Jones fell 370 points on Monday, with big names like Goldman Sachs and Alphabet taking the hardest hits.
Rising oil prices and fresh concerns that the Federal Reserve might hike interest rates spooked investors.
Still, August ended on a brighter note overall; the Dow Jones managed to notch gains for the fifth month in a row.
Brent tops $90 amid U.S.-Iran tensions
Tensions between the US and Iran have sent oil prices soaring, with Brent crude topping $90 a barrel.
At the same time, bond yields hit their highest point since early 2025, adding to worries about future rate hikes after comments from Fed Chair Kevin Warsh.
All of this made for a bumpy day on Wall Street, but markets showed some resilience by bouncing back from deeper losses earlier in the session.