U.S. Stocks Close Tuesday Lower
The Dow Jones Industrial Average shed 292.96 points, or 0.59%, closing at 49,149.60. The S&P 500 dropped 45.13 points, or 0.63%, to settle at 7,064.01, and the Nasdaq Composite slipped 144.43 points, or 0.59%, finishing the session at 24,259.96.
Market anxiety was further reflected in the Volatility Index (VIX) — widely known as Wall Street's "fear index" — which climbed 3.07% to 19.50, signaling heightened trader unease.
Sentiment deteriorated sharply after reports emerged that U.S. Vice President JD Vance's planned diplomatic trip to negotiate with Iran had been put on hold, with officials pointing to insufficient commitment from Tehran as the key obstacle. The development cast a long shadow over hopes for a near-term diplomatic breakthrough.
U.S. President Donald Trump had earlier warned that, while he anticipated the two sides could reach a "great deal," a failure to finalize an agreement before the ceasefire deadline would likely see military operations resume. He subsequently announced a unilateral extension to the two-week ceasefire — originally set to expire Wednesday — though the news broke after markets had already closed.
Oil markets staged a turbulent session amid the swirling geopolitical crosscurrents. U.S. benchmark West Texas Intermediate (WTI) crude surged 3% to settle at $90.04 per barrel, while global benchmark Brent crude advanced 3.5% to close at $98.85 — both driven higher by Trump's ceasefire extension announcement, even as the U.S. naval blockade on Iranian ports remained firmly in place.
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