The US markets stumbled on Monday as rising oil prices hurt investor sentiments. The ceasefire between the United States and Iran also expired on Monday, with negotiations stalled between the two sides.
The Dow Jones Industrial Average slipped 0.51% to end at 53,459.78. The S&P 500 fell 0.52% to 7,745.06, while the NASDAQ Composite declined 0.32% to settle at 26,644.91.
Taking to Truth Social, US President Donald Trump said, “The number one goal is, and always will be, that Iran cannot have, in any way, shape, or form, a nuclear weapon.”
A senior Iranian official told Reuters that Tehran would shift to an offensive posture if diplomacy with Washington fails.
Brent Crude, the international standard, rose 0.24% to $91.08 per barrel. West Texas Intermediate surged 0.57% to $84.98 a barrel.
The 30-year Treasury yield touched its highest level since June 2007 as oil became expensive.
Nike shares settled 4% lower due to the company’s slow recovery, frail demand in China and dividend sustainability. In fiscal year 2026, the athletic-wear’s revenue stood at $46.4 billion, while Nike Direct sales declined 6% and digital sales fell 12%. Converse revenue slid 31%.
Microsoft Corporation shares saw a down turn of more than 3%, as Morgan Stanley pointed out the gap between AI infrastructure spending and actual revenue generation.
Boeing shares fell 2.47% as the US Army issued a temporary suspension of Apache helicopter operations after a deadly incident in Texas, which killed two military personnel.
Nvidia, Apple, The Hoe Depot, Amazon and JP Morgan Chase & Co also ended in red.
The stock of Micron Technology settled 4.13% higher after the US administration warned Apple about buying Chinese chips for possible use in devices sold in China.
SanDisk Corporation, Chevron Corporation, Goldman Sachs Group Inc, Space Exploration Technologies Corp (SpaceX) and Lam Research Corporation among others also rose on Monday.