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US stocks edge further from their records as oil prices keep swinging
['Stan Choe', 'Tue', 'August', 'At P.M. Gmt', 'Min Read']
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NEW YORK (AP) — U.S. stocks slipped a bit further from their records Tuesday, while oil prices kept swinging on uncertainty about when the war with Iran will allow crude to flow freely again.
Higher oil prices make inflation worse, and they've sent the average cost for a gallon of regular gasoline to $4.01, according to AAA.
They would also undercut prices for stocks and other investments.
It also could anger President Donald Trump, who has been lobbying for lower interest rates.
Treasury yields have jumped since the war with Iran because of higher oil prices and worries about inflation, sending long-term mortgage rates to their highest levels in a year.