Oil Prices Surge, Stocks Fall after US Kills Iranian General

Stocks fell broadly and oil prices surged after a U.S. strike killed a top Iranian general in Iraq, raising tensions in the Middle East.

The selling ended a five-week winning streak for the S&P 500 a day after the index hit its latest record high.

The price of oil jumped by 3.1%. Bond prices rose as investors sought safety, sending yields lower.

That hurt banks, which make less money when interest rates are low.

The S&P 500 fell 23 points, or 0.7%, to 3,234.

The Dow Jones Industrial Average lost 233 points, or 0.8%, to 28,634.

The Nasdaq dropped 71 points, or 0.8%, to 9,020.