Tech Shares Fall and Oil Rises Amid Iran War Worries
Major stock indexes mostly declined on Monday as technology shares fell ahead of key earnings from Nvidia later this week. Oil prices settled higher near 112 dollars per barrel as investors weighed supply risks from the ongoing Iran war and potential inflationary shocks. U.S. Treasury yields remained flat after hitting multi-year highs in overnight trading while the dollar slipped against major currencies.
Major stock indexes in the United States mostly eased on Monday as technology shares fell 1%. The S&P 500 fell 0.07% to 7,403.05, while the Nasdaq Composite dropped 0.51% to 26,090.73. Investors are rotating out of high-growth tech sectors to hedge against a potential inflationary shock from the ongoing war in Iran.
### Geopolitical Tensions Drive Energy and Yields Oil prices settled higher on Monday following persistent concerns over supply disruptions. West Texas Oil rose $3.24 to settle at $108.66 a barrel, while Brent Crude Oil gained $2.84 to reach $112.10. Energy stocks led sector gainers with a 1.8% increase.
