The Nasdaq closed lower on Monday, with declines in Intel and other chipmakers, as investors became less confident about a deal to reopen the Strait of Hormuz. U.S. President Donald Trump demanded that Iran pay compensation for the people he said it had killed in wars, attacks and protests. Earlier, Iran called for Washington to meet conditions, including recompensing Tehran for the damage caused since the U.S. and Israel launched strikes on its territory more than five months ago.
With investors less optimistic about a resolution of the Middle East crisis, U.S. crude oil jumped about 5% to settle at $82.13 a barrel. Reopening the flow of oil through the Strait could mitigate concerns over heightened energy prices that have spurred inflation worries and led to concerns that central banks would have to raise interest rates. Also weighing on the market were shares of Intel, which fell after the chipmaker said it was planning to raise $15 billion through a share sale.
