US Stocks Drop as Oil Rises on Iran Deal Stalls
· Business · LiveMint, Reuters, Bloomberg
U.S. equity indices fell on Monday, with the Dow down 0.49%, the S&P 500 down 0.37% and the Nasdaq 0.31%. Oil prices jumped more than 2% as traders priced in a lack of progress on a U.S.–Iran deal, lifting the energy sector index by 1%. Investors waited for quarterly earnings from Home Depot and Walmart, while the communications‑services sector fell 1.6% led by a drop in Meta Platforms shares. In the S&P 500, chip stocks rose approximately 2%, but software shares fell, balancing gains in the technology sector. The Nasdaq closed 1.3% below its recent record, and the S&P 500 had slipped from its previous record close.
Why it matters
Higher oil prices can lift gasoline and diesel costs for Indian consumers, tightening inflation. Surprises in U.S. retailer earnings may shift global consumer sentiment, affecting Indian import‑export patterns.
Read the original report — LiveMint
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