The Dow Jones Industrial Average close down nearly 770 points, or 1.7%. The S &P 500 declined 1.1%, while the tech-heavy index slid 1.3%. The jump in oil prices threatens to raise the price of gasoline for U.S. drivers, since crude oil makes up the top ingredient in car fuel.

Stock futures pointed lower on Sunday as investors weighed the impact of the escalating Israel-Iran conflict that shows no signs of any potential off-ramps ahead. Oil prices jumped after Israel attack key areas of Iran’s energy infrastructure over the weekend,

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.