"The retreat reflects a familiar pattern: optimism about Iran peace talks faded after Iranian state media denied that direct negotiations had taken place, reversing the sentiment that had briefly lifted equities."
"West Texas Intermediate crude rose 4.26% and Brent jumped above $101 as fighting between Iran and the U.S.-Israeli alliance continued, raising inflation expectations and pushing Treasury yields higher."
"Amazon Web Services reported its Bahrain region was disrupted due to drone activity, marking the second outage since the Iran war began, prompting major tech companies to reconsider data center expansion plans in the Middle East."
"The Nasdaq 100 closed Monday at $588, down 4% year-to-date and off 2% over the past week, while the S&P 500 and Dow have also faced significant declines."
Nasdaq 100 futures declined 0.98%, reversing gains from the previous day due to fading optimism about Iran peace talks. Iranian state media denied direct negotiations, affecting market sentiment. The VIX remains elevated near 27, indicating investor caution. Crude oil prices surged, raising inflation expectations and Treasury yields, which negatively impact growth stocks. Amazon Web Services faced disruptions due to drone activity, affecting tech infrastructure. The Nasdaq 100 is down 4% year-to-date, while the S&P 500 and Dow have also experienced significant declines over the past month.
Read at 24/7 Wall St.
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