(CNBC) Stocks fell on Monday amid fears that a surge in oil prices following an attack in Saudi Arabia could slow down global economic growth.
The Dow Jones Industrial Average slid 139 points, or 0.5%. It would be the first decline in nine days for the Dow. The S&P 500 and Nasdaq Composite pulled back 0.4% each.
Quincy Krosby, chief market strategist at Prudential Financial, said “anything that would suggest this is going be painful for the economy” is going to hurt the stock market.
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“It’s contained, right now,” said Krosby. “That’s a function of the U.S. increasing its oil production. We are much less vulnerable to outside influences.”