Key facts
- Wall Street opened lower on Monday.
- President Donald Trump rejected an Iranian proposal to end the conflict.
- Crude oil prices spiked following the rejection.
- Treasury yields rose due to revived inflation worries.
Wall Street opened lower on Monday after President Donald Trump rejected an Iranian proposal aimed at ending the conflict. The rejection led to a spike in crude oil prices, which in turn revived inflation concerns and pushed Treasury yields higher.
At the open, the Dow Jones Industrial Average fell 180.1 points, or 0.35%, to 51,648.48. The S&P 500 dropped 21.7 points, or 0.28%, to 7,721.7, while the Nasdaq Composite declined 133.0 points, or 0.49%, to 26,935.762.