US Stocks Drop 0.8% on $114 Oil

US equity indices fell, with the S&P 500 down 0.4% to 7,201.59, Dow down 0.8% to 49,093.41, and Nasdaq down 0.4% to 25,014.70.
Brent crude rose 5.7% to $114.29 a barrel as renewed Strait of Hormuz tensions and a UAE pipeline fire lifted oil prices.
GameStop launched a $56 bn bid for eBay at $125 per share, a 20% premium, using debt and a $20 bn TD Securities commitment.
Berkshire Hathaway reported an 18% rise in earnings and a $397.38 bn cash pile; Norwegian Cruise Line shares dropped over 8% after outlook.