US Stocks Drop After Oil Prices Climb and the Bond Market Cranks the Pressure to New Heights
- On Monday, Wall Street opened lower after President Donald Trump rejected an Iranian proposal to end the conflict, sparking a spike in crude oil prices and reviving inflation worries.
- Over the weekend, Trump rejected an Iranian offer to reopen the Strait of Hormuz and resume nuclear talks, stating that "that deal would not be acceptable" despite interest in a potential agreement.
- Airline stocks fell as rising oil prices increased fuel costs, with American Airlines falling 3.5% and United Airlines losing 3.3%, while the Dow Jones Industrial Average fell 0.8% and the Nasdaq Composite dropped 1.2% by 11 a.m. Eastern time.
- Treasury yields surged significantly, with the 10-year Treasury jumping to 5.27% from 5.17% late Friday and the 30-year Treasury leaping to 5.57% from 5.49%, returning to 2024 levels.
- Worries about inflation persist, with the average price for a gallon of regular gasoline at nearly $4.48, while Brent crude remains well above the roughly $72 per barrel seen before February's United States and Israel attacks on Iran.
38 Articles
38 Articles
Wall St declines as oil spikes after Trump rejects Iran peace proposal
Wall Street's main indexes fell on Monday after President Donald Trump rejected an Iranian proposal to end the conflict, leading to a spike in crude prices that revived inflation worries and drove Treasury yields higher. Limiting declines was Nvidia's 2.1 percent gain after the chip giant announced a $150 billion share repurchase authorization, making it the company's biggest ever increase in share buybacks on record. Iran announced a peace prop…
U.S. Stocks Under Pressure As Crude Oil Prices, Treasury Yields Surge
Stocks have moved mostly lower during trading n Monday, giving back ground after ending last week's trading on an upbeat note. The major averages have all moved to the downside, with the tech-heavy Nasdaq leading the way. Currently, the major averages are just off their lows of the session.
Intel Drops 4% on Oil-Driven Rate Fears, NVIDIA Rises 3% on Record $150B Buyback; Taiwan Semiconductor Slips
Oil prices are rattling rate expectations again, and the chip sector is cracking under the pressure in ways that reveal a sharp divide between two of its biggest names.
At about 14:05 GMT, the Dow Jones was down 0.42%, the Nasdaq index was down 0.70%, and the expanded S&P 500 index was down 0.45%. "It looks like we're accumulating all the bad news that we can find, which puts pressure on stock prices," comments AFP Sam Stovall, analyst at the CFRA firm. Donald Trump rejected on Sunday a plan by Iran to reopen the Strait of Ormuz within seven days, adding that he expected a resumption of discussions with Tehran …
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