The S&P 500 Index ($SPX) (SPY) on Monday closed down -0.24%, the Dow Jones Industrial Average ($DOWI) (DIA) closed down -0.01%, and the Nasdaq 100 Index ($IUXX) (QQQ) closed down -0.31%. June E-mini S&P futures (ESM26) fell -0.22%, and June E-mini Nasdaq futures (NQM26) fell -0.31%.
Stock indexes settled lower on Monday as crude oil prices soared due to doubts about the prospects for peace talks to end the Iran war. Iran on Saturday said the Strait of Hormuz was closed for shipping following a refusal by the US to lift a naval blockade of Iran's vessels. The UK reported Saturday that a tanker was approached by Iranian gunboats off the coast of Oman before being fired at, and an unknown projectile hit a container ship in a separate incident. India also said some of its ships were fired upon. A US-Iran ceasefire is due to expire on Wednesday, and it’s unclear whether that truce will be extended, or whether talks between US and Iranian officials will go ahead this week. President Trump said it's "highly unlikely" he will extend the ceasefire with Iran after Wednesday’s deadline.
