US stocks fell for a third straight day as the Iran conflict pushed oil past $100 a barrel — bad news for investors and anyone worried about inflation.

• Fighting between the US and Iran has traders scared Middle East oil supply gets cut off, sending oil to its highest close since May.
• Higher oil prices feed inflation, so more traders now bet the Fed will raise interest rates instead of cutting.
• Government bond yields jumped to their highest level since late 2023 after the Treasury's bond buyback plan came in smaller than traders hoped.
• Apple slipped even as it unveiled its first folding phone, the iPhone Duo, plus new iPhones and watches — the first launch run by its new CEO after Tim Cook's exit.
• Taiwan's market held up better, though TSMC's US-listed shares eased and Taiwan index futures dropped in overnight trading.

Outlook: Inflation numbers due later this week will decide whether the selling continues, while Trump says the war and high oil prices will end right after November's midterm elections.