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Rising Oil Prices Cause Markets To Fall As The Dow Closes Nearly 200 Points Lower

Tuesday marked the first trading day of a week that has been shortened due to holidays, and stocks declined due to an increase in crude oil prices.

The Dow Jones Industrial Average dropped 341.97 points, or 0.56%, to close at 195.74 points. To close at 4,496.83, the S&P 500 fell 0.42%. To end the day at 14,020.95, the Nasdaq Composite fell 0.08%.

After Russia and Saudi Arabia continued their voluntary production restrictions, oil prices climbed. The price of West Texas Intermediate futures surged more than 1%, temporarily trading above $87 per barrel, and reaching its highest point since November.

Source (CNBC)

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