US stocks erase sharp losses; oil prices leap
NEW YORK — Oil prices leaped Monday on worries that war with Iran could clog the global flow of crude and make inflation even worse. U.S. stocks, meanwhile, swung from sharp losses to a tiny gain. Crude prices jumped more than 6%, which will likely mean higher prices soon at gasoline pumps. That would hurt not only U.S. households, whose spending makes up the bulk of the U.S. economy, but also businesses with big fuel bills. The S&P 500 fell as much as 1.2% at the start of trading, and cruise lines and airlines led the way lower. But U.S. stocks quickly erased those losses, in part ...