Happy Monday. Stocks fell from record highs after the Iran War appeared to come alive again, with a fresh missile barrage on the United Arab Emirates (UAE). Oil rose, the Cboe Volatility Index (VIX), and Treasury yields rose. Meanwhile, the Dow declined more than 1% intraday, while the Russell 2000, S&P 500, and Nasdaq also suffered declines.
GameStop shook up the headlines late last week amid rumors it was looking to buy eBay... Somehow. The $11 billion company made an offer for the $55.5 billion giant to kick off the week, perplexing investors. It's hardly a done deal.
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