- Energy shares continue to capitalize on rising crude oil prices.
- Falling US Treasury bond yields weigh on Financials Index.
- White House adviser says US and Iran could still negotiate a nuclear deal.
Wall Street’s main indexes started the day sharply lower as signalled by the poor performance of Asian and European stocks. As of writing, the Dow Jones Industrial Average was down 0.4% on the day while the S&P 500 and the Nasdaq Composite were down 0.15% and 0.1%, respectively.
Lack of fresh developments that could ease the tensions in the Middle East seems to be forcing investors to stay away from risky assets. Although White House adviser Conway on Monday said that the US could still renegotiate a nuclear weapons deal with Iran, the 10-year US Treasury bond yield struggled to pare its daily losses.
Pressured by the falling T-bond yields, the S&P 500 Financials Index is down 0.65% on the day. On the other hand, rising crude oil prices continue to help the Energy Index push higher, which was last seen adding 0.6%.
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