Stock markets shudder worldwide after oil prices briefly spike to nearly $120 USD per barrel

NEW YORK (AP) — Stock markets shuddered worldwide Monday on worries about whether the global economy can withstand spiking prices for oil, which briefly got to nearly $120 per barrel, their highest level since four summers ago. The S&P 500 fell 1.3%, coming off its worst week since October. The Dow Jones Industrial Average was down 721 points, or 1.5%, as of 9:35 a.m. Eastern time, and the Nasdaq composite was 1.2% lower. That followed even worse losses in European and Asian stock markets. Since the war with Iran began with attacks by the United States and Israel, the central…