NEW YORK, New York - U.S. stocks turned lower on Monday as U.S. negotiations with Iran continued to falter, putting pressure on oil prices, and undermining the key indices. President Trump continued to vacillate on the talks, at one point threatening to bomb its ally Oman, "if it gets in the  way." Oman is leading talks with Iran on a way out of the conflict.

"We're back to watching the negotiations in real time, and I think a lot of people have just turned a blind eye to it," Jason Stephens, Evertern Wealth founder told CNBC Monday. "We think that there's more bias to the downside in oil prices than there is the risk to the upside at this point in the game." 

"There's a lot of pressure on the administration right now to really focus heavily on this and get something done," Stephens said.

S&P 500 Slips Amid Broad-Based Declines

The Standard and Poor's 500 fell 40.38 points, or 0.52 percent, closing at 7,745.38. The broad-market index traded between an intraday low of 7,744.88 and a high of 7,790.68, with volume reaching 2.396 billion shares. The index's 52-week range stands at 6,316.91 on the low end and 7,816.70 at the high.

Declines were spread across multiple sectors, with technology, financials, and consumer discretionary stocks leading the downturn. The benchmark index's retreat came after recent record highs, as traders took a cautious stance ahead of key economic data releases later in the week.

Dow Jones Industrial Average Extends Losses

The Dow Jones Industrial Average dropped 272.39 points, or 0.51 percent, to finish at 53,460.02. The blue-chip index traded between 53,395.23 and 53,663.11 during the session, with volume of 419.299 million shares. Its 52-week range spans 44,579.03 to 54,744.33.

Industrial and financial components weighed heavily on the Dow Monday, with several major multinational corporations contributing to the decline as the dollar's mixed performance and global growth concerns dampened investor sentiment.

Nasdaq Composite Underperforms

The NASDAQ Composite lost 84.25 points, or 0.32 percent, closing at 26,644.91 on volume of 5.993 billion shares. The tech-heavy index fared slightly better than its counterparts but still ended in negative territory as megacap technology shares struggled to maintain momentum.

The decline in the Nasdaq came despite some resilience in semiconductor and artificial intelligence-related names, suggesting selective buying even as broader market sentiment turned cautious.

U.S. Dollar Weakens Against Most Major Currencies, Gains Only Against Yen on Monday

The U.S. dollar posted a mixed performance in foreign exchange markets on Monday, weakening against all major currencies except the Japanese yen, as traders assessed shifting monetary policy expectations and global economic data. The US Dollar Index eased 0.08 points, or 0.08 percent, to 99.59, trading between 99.29 and 99.67. Its 52-week range is 95.55 to 101.80.

Euro Strengthens as Dollar Slips

The euro advanced against the greenback, with EUR-USD rising to 1.1579, a gain of 0.08 percent. The move extended the euro's recent recovery as investors priced in continued hawkish signals from the European Central Bank amid persistent inflation concerns in the eurozone.

Sterling Edges Higher

The British pound also moved higher against the dollar on Monday, with GBP-USD climbing to 1.3544, an increase of 0.04 percent. Sterling found support from expectations that the Bank of England will maintain its restrictive monetary policy stance, even as the U.K. economy shows signs of moderation.

Australian Dollar Outperforms

The Australian dollar was among the session's strongest performers, with AUD-USD climbing 0.30 percent to 0.7105. The commodity-linked currency benefited from rising iron ore prices and growing optimism about China's economic recovery, which typically boosts demand for Australian exports.

Canadian Dollar Holds Firm

The Canadian dollar strengthened marginally against its U.S. counterpart, with USD-CAD easing 0.01 percent to 1.3873. The loonie drew support from steady crude oil prices, though gains were capped by broader risk-off sentiment in global markets.

Swiss Franc Gains Ground

The Swiss franc posted decent gains against the dollar, with USD-CHF declining 0.31 percent to 0.8108. The safe-haven currency attracted bids amid cautious trading conditions, with investors seeking refuge in traditional haven assets.

Yen Bucks the Trend

In a notable exception to the dollar's broader weakness, the Japanese yen fell against the greenback Monday, with USD-JPY rising 0.06 percent to 159.4200. The yen remained under pressure as the interest rate differential between the U.S. and Japan continued to weigh on the currency, with the Bank of Japan maintaining its ultra-loose monetary policy stance even as other major central banks have tightened.

Market Context

The dollar's overall weakness against most major currencies reflects growing expectations that the Federal Reserve may be nearing the end of its tightening cycle, with markets pricing in potential rate cuts in the coming months. Meanwhile, the yen's underperformance highlights the persistent policy divergence between the Fed and the BOJ, which continues to keep the U.S. currency elevated against the Japanese unit.

Global Stock Markets Close Mixed on Monday as Investors Weigh Economic Signals

Global stock markets delivered a mixed performance on Monday, with European indices mostly in the red while Asian markets showed resilience, as investors digested a range of economic data and corporate developments.

The FTSE 100 in London fell 29.81 points, or 0.28 percent, to end at 10,720.30. The index traded between a low of 10,717.55 and a high of 10,793.55 during the session, with its 52-week range spanning 9,107.40 to 10,989.50.

Canadian Market Edges Lower

Canada's S&P/TSX Composite index fell 62.35 points, or 0.17 percent, to close at 36,667.92 on volume of 211.554 million shares. The modest decline reflected broad-based weakness across sectors, though the TSX outperformed its U.S. peers amid strength in energy and materials stocks, which benefited from firm commodity prices.

European Markets Slip

European equities closed lower across the board Monday, led by declines in France and Germany. 

In Germany, the DAX P dropped 101.70 points, or 0.38 percent, closing at 26,338.61. The index touched an intraday low of 26,338.61 and a high of 26,493.50, with its yearly range between 21,863.81 and 26,573.50.

France's CAC 40 was the worst performer among major European benchmarks, losing 57.19 points, or 0.66 percent, to finish at 8,579.60. The index ranged from 8,577.49 to 8,643.90, with a 52-week span of 7,505.27 to 8,755.03.

The broader EURO STOXX 50 I slipped 9.14 points, or 0.14 percent, closing at 6,530.45, after trading between 6,530.45 and 6,570.27. Its yearly range stands at 5,290.46 to 6,577.20.

The Euronext 100 Index bucked the trend in Europe, rising 1.04 points, or 0.05 percent, to close at 1,970.91. It traded between 1,970.69 and 1,982.06, with a 52-week span of 1,574.74 to 1,984.60.

Belgium's BEL 20 outperformed Monday, surging 98.01 points, or 1.73 percent, to end at 5,762.49, after trading between 5,703.97 and 5,774.26. Its yearly range is 4,631.38 to 5,822.68.

Asian Markets Show Strength

Asian markets delivered a more positive performance, led by significant gains in Hong Kong and South Korea.

The HANG SENG INDEX advanced 336.38 points, or 1.34 percent, to close at 25,453.23. The index traded between 25,303.41 and 25,578.27, with a yearly range of 22,518.00 to 28,056.10.

In Singapore, the STI Index rose 24.87 points, or 0.43 percent, finishing at 5,768.46 after ranging from 5,679.10 to 5,768.46. Its 52-week span is 4,181.99 to 5,774.21.

Australia's benchmarks edged lower on Monday, with the S&P/ASX 200 declining 42.00 points, or 0.46 percent, to close at 9,073.20, trading between 9,065.10 and 9,115.20. The ALL ORDINARIES fell 34.20 points, or 0.37 percent, to 9,279.00, ranging from 9,270.60 to 9,315.50.

New Zealand's S&P/NZX 50 INDEX GROSS fell 132.40 points, or 0.96 percent, to 13,721.98, ranging from 13,721.98 to 13,878.57. Its yearly range is 12,689.78 to 14,012.57.

In India, the S&P BSE SENSEX dropped 281.09 points, or 0.36 percent, closing at 77,728.16 after trading between 77,453.75 and 77,928.68. Its 52-week range spans 71,545.81 to 86,159.02.

Indonesia's IDX COMPOSITE climbed 100.12 points, or 1.59 percent, finishing at 6,401.89, ranging from 6,267.41 to 6,401.89. Its yearly span is 5,317.91 to 9,174.47.

In Malaysia, the FTSE Bursa Malaysia KLCI slipped 1.50 points, or 0.09 percent, closing at 1,725.89 after trading between 1,722.16 and 1,731.45. Its 52-week range is 1,561.36 to 1,771.25.

South Korea's KOSPI Composite Index was among the best performers, surging 164.60 points, or 2.42 percent, to close at 6,977.94. Its 52-week range is 0.00 to 9,385.59.

In Taiwan, the TWSE Capitalization Weighted Stock Index rose 46.26 points, or 0.10 percent, to 45,857.27, trading between 45,765.07 and 46,189.30. Its yearly range spans 23,620.24 to 48,218.87.

China's SSE Composite Index advanced 55.48 points or 1.41 percent, closing at 3,982.65 on volume of 1.739 billion shares. It traded between 3,924.47 and 3,983.51, with a 52-week range of 3,702.38 to 4,258.86.

In Japan on Monday, the Nikkei 225 gained 506.45 points, or 0.74 percent, ending at 69,220.25. The index traded between 68,492.04 and 69,225.57, with a 52-week low of 41,835.17.

Middle East and Africa

Israel's TA-125 fell 48.32 points, or 1.19 percent, to close at 4,026.31, trading between 4,026.17 and 4,094.07. Its 52-week range is 3,023.40 to 4,588.51.

In Egypt, the EGX 30 Price Return Index declined 439.60 points, or 0.79 percent, to 55,415.10 on volume of 354.416 million shares. It traded between 55,410.70 and 56,101.70.

South Africa's Top 40 USD Net TRI Index gained 51.46 points, or 0.73 percent, closing at 7,108.00 after ranging from 7,047.09 to 7,139.51. Its yearly range is 5,616.39 to 8,184.71.

(This report incorporates quotes retrieved with the assistance of artificial intelligence).

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