(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.
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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.
“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.”