Wall Street eases as Hormuz deal hopes fade; Intel drops

On Monday, the stock market in the United States went down a little bit.

That happened because people hoped a busy shipping route called the Strait of Hormuz would open again soon, but that hope started to fade.

Ships use that route to move oil, and when there is trouble there, oil can cost more.

The price of oil jumped by about 5%, so one barrel cost around $82.

A computer-chip company called Intel also had a rough day, with its stock dropping about 3%.

Intel said it plans to raise $15 billion by selling new shares of the company.

President Donald Trump asked Iran to pay back money for people he says Iran hurt in wars, attacks, and protests.

High oil prices make people worried because they can make all kinds of things cost more.

More companies, including Applied Materials and Cisco, will share how much money they made later this week.

The stock market had been at record highs lately because many companies reported very strong profits.