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Stocks drop after oil spikes to its highest price since the summer of 2024

U.S. stocks sank after the price of oil spiked to its highest level since 2024. The S&P 500 fell 0.6% Thursday. The Dow Jones Industrial Average briefly dropped more than 1,100 points before finishing with a loss of 784. The Nasdaq composite slipped 0.3%. The losses came as financial markets arou…