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Wall Street falls as oil and Treasury yields retreat from highs

Indexes pared some of their early losses as crude and yields eased, but investors weighed risks around an Iran peace deal and the Fed rate path.

Reported · Written up by our desk · North America

Wall Street’s main indexes fell on Monday, though they trimmed steeper declines as oil prices and Treasury yields pulled back from intraday highs, according to Reuters.

The report said crude prices rose after US President Donald Trump rejected an Iran peace deal, then gave back some gains amid expectations that Qatari mediators would hold talks with the two countries.

Rising crude and diesel prices, it added, have heightened inflation worries and supported higher Treasury yields, with Fed officials suggesting additional rate hikes could be needed if price pressures do not moderate after a 25 basis point increase earlier this month.

Jack Ablin of Cresset Capital Management told Reuters that “Iran is driving oil prices, and oil prices are driving inflation, and inflation is driving interest rates.”

Latest closeWTI crude $92.44 ▼2.3%

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