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Wall Street Falls, Oil Prices Rise Amid Prolonged War Fears; Trump Rejects Iran Truce
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Moneycontrol•29-09-2026, 04:27
Wall Street Falls, Oil Prices Rise Amid Prolonged War Fears; Trump Rejects Iran Truce
- •Wall Street stocks retreated as US Treasury yields climbed after President Trump rejected Iran's seven-day truce offer.
- •Oil prices rose, though crude finished below session highs as traders noted Trump's expectation for continued talks.
- •Markets reacted to reports of Iran's Foreign Minister Abbas Araghchi meeting Qatari mediators in New York to discuss messages exchanged with the US.
- •The ongoing Washington and Tehran impasse is roiling markets, with concerns that the geopolitical premium on oil prices could lead the Fed to tighten monetary policy.
- •European natural gas prices and UK diesel prices rose, while gold prices slumped due to a stronger dollar, as the conflict over the Strait of Hormuz continues.
Key Questions Answered
Wall Street stocks retreated with the S&P 500 closing down 0.8 percent as Treasury yields climbed, while oil prices rose amid concerns of a prolonged war and potential Federal Reserve monetary tightening.
Iranian state media reported that Foreign Minister Abbas Araghchi was set to meet with Qatari mediators in New York to discuss messages exchanged with the United States and conditions for reopening the Strait of Hormuz.
European natural gas prices rose, and average diesel prices in the United Kingdom hit a record high just shy of two pounds per liter, while gold prices slumped due to a stronger dollar.
