NEW YORK — U.S. stocks fell from their records Thursday after oil prices yo-yoed as Wall Street waits to see whether its hopes for a deal to end the Iran war are warranted or just wishful.

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Robert Finnerty, Jr., foreground right, works with colleagues on the floor of the New York Stock Exchange, Thursday, May 7, 2026.

The price for a barrel of Brent crude oil settled at $100.06, down 1.2%, and continued its decline from more than $115 early this week. But it swung sharply before getting there, as Iran said it was reviewing the latest U.S. proposals on ending their war.

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