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Wall Street slides as Iran tensions, Nvidia earnings, and US inflation loom
The Dow fell 0.0% at the open, with the S&P 500 down 0.1% and the Nasdaq down 0.4%, while Brent crude dropped 1.1% and spot gold rose 1.6%.
Wall Street opened lower on Monday as investors weighed the Trump administration’s warning of an “economic D-Day” for Iran, while also looking ahead to Nvidia’s upcoming earnings and a key US inflation reading due later this week, Reuters reported.
At the open, the Dow Jones Industrial Average fell 15.1 points, or 0.0%, to 53,261.95, the S&P 500 dropped 11.0 points, or 0.1%, to 7,663.38, and the Nasdaq Composite slid 115.1 points, or 0.4%, to 26,065.32.
The session also turned on US Treasury yields, after last week’s concerns about rising energy prices and mounting government debt pushed yields to multi-year highs. Reuters said US Treasury Secretary Scott Bessent was scheduled to hold a press conference later on Monday and could consider using the Treasury Department’s nearly $1 trillion General Account to finance bond buybacks rather than relying on short-term bills.
Energy and commodities moved as well, with oil prices slipping after recent gains as traders waited for details on expected new US sanctions on Iran. Reuters reported Brent crude futures were down 1.1% to $93.38 and West Texas Intermediate was down 1.6% to $85.64 a barrel, while gold climbed, with spot gold up 1.6% to $4,677.14 an ounce.
Latest closeGold $4,432.00 ▲1.6%|WTI crude $82.40 ▲1.4%|Brent $88.59 ▲1.8%