Nasdaq Drops 0.49% as Trump Rejects Iran Peace Proposal, Oil Spikes
IXIC sits 30% above its 52-week low of $20,690.249 on light trading volume (0.1× avg).
Summary
The Nasdaq Composite fell 1.2% by mid-session on Monday after President Trump rejected an Iranian peace proposal, sending oil prices higher and reviving inflation concerns. The index was down 335.88 points to 26,732.84, while the Dow lost 0.8% and the S&P 500 fell 1%. The 10-year Treasury yield rose to 5.260%, its highest since June 2007. This follows a pattern of oil-driven equity weakness seen throughout September, but today's move is tied to a specific new geopolitical development rather than a continuation of prior sessions. Traders are watching whether the rejection escalates Middle East tensions further and how Treasury yields respond to the renewed inflation fears.
Updated with a dpa-AFX report · What changed
Updates
· dpa-AFX — The Nasdaq's decline deepened to 1.2% by mid-session, with the index down 335.88 points to 26,732.84. The 10-year Treasury yield rose to 5.260%, its highest since June 2007, and the S&P 500 fell 1% while the Dow lost 0.8%.
At the time of this announcement, IXIC was trading at $26,950.55 on NASDAQ in the Finance sector. The 52-week trading range was $20,690.25 to $27,288.79. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Reuters.