Nearly $700 billion was erased from the combined market value of S&P 500 companies on Monday, while the Dow and Nasdaq also fell 0.7% and 0.9%, respectively, as Wall Street braced for rising oil prices and Treasury yields, a worsening US-Iran settlement outlook, and a higher inflation warning from the rapid AI buildout.
US President Donald Trump reportedly turned down Tehran's proposal to end hostilities and reopen the Strait of Hormuz, only to signal later that US negotiators could resume talks with Iranian officials this week.
