Stocks lost ground in early trading Tuesday, while oil prices moved higher, as investors monitored developments in the escalating conflict between Israel and Iran and digested disappointing economic data.

NEW YORK (AP) — Some calm is returning to Wall Street, and U.S. stocks are rising on Monday, while oil prices are giving back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week.

Oil prices surged, stocks dropped and investors flocked to safe havens like gold on Friday after tensions between Israel and Iran escalated, stoking concerns of a broader conflict in the region.

Oil prices jumped and stocks mostly fell Tuesday after President Donald Trump abruptly departed G7 talks and concerns rose over a possible US intervention. Investors' optimism the previous day that the conflict would not spread throughout the Middle East gave way to fears of further escalation as the conflict entered its fifth day.

U.S. oil benchmark prices climbed roughly 7% to about $73 a barrel, the highest level since early April. U.S. government borrowing costs climbed. Tech stocks like Nvidia and Tesla moved lower, while shares in oil and defense-industry firms like Chevron, Lockheed Martin, and Palantir traded up.

U.S. stock indexes are drifting lower on Tuesday, while oil prices rise again.The S&P 500 was down 0.2% in afternoon trading following signals that one of the U.S. economy’s main engines, spending by households,

NEW YORK (AP) — Calm is returning to Wall Street, and U.S. stocks are rallying on Monday, while oil prices are giving back some of their initial spurts following Israel’s attack on Iranian nuclear and military targets at the end of last week.

Oil prices have risen in response to the Israel-Iran war, bringing them nearly back to the levels where they traded before the Liberation Day tariffs were announced on April 2. Oil stocks are trailing well behind.