Wall St opens lower as oil spikes after Trump rejects Iran peace proposal
SPY•U.S. stocks opened lower on Monday after President Donald Trump rejected an Iranian proposal to end the conflict, sending crude prices higher and reviving inflation worries. The Dow fell 0.35%, the S&P 500 0.28% and the Nasdaq 0.49% at the open.
1. Stocks open lower
The Dow fell 180.1 points, or 0.35%, to 51,648.48 at the open. The S&P 500 dropped 21.7 points, or 0.28%, to 7,721.7, while the Nasdaq fell 133 points, or 0.49%, to 26,935.762.
2. Oil and yields rise
Crude prices spiked after Trump rejected Iran’s proposal, reviving inflation worries and driving Treasury yields higher.
