Key facts
- U.S. stock futures for the S&P 500 and Nasdaq declined.
- Oil prices approached recent highs.
- Government bond yields reached multi-year peaks.
- Fading prospects for a U.S.-Iran peace deal contributed to market movements.
- Renewed inflation concerns were also a factor.
- Tesla and Nvidia shares led losses in the technology sector.
- Home Depot shares rose after reporting better-than-expected sales.
U.S. stock futures experienced a decline, with futures for the S&P 500 and Nasdaq showing losses. This downturn was influenced by rising oil prices, which neared recent highs, and a climb in government bond yields to multi-year peaks. The market sentiment was affected by diminishing hopes for a peace deal between the U.S. and Iran, alongside resurgent inflation concerns. Technology stocks were particularly under pressure, with notable declines in shares of Tesla and Nvidia. Conversely, Home Depot reported gains, surpassing sales expectations.