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US stocks: US market ends down as Iran peace deal optimism fades

economictimes.indiatimes.com · 5h · first reportShare

Wall Street ended lower on Tuesday, with Amazon ​and Alphabet dipping, as investors became more pessimistic about a potential deal to bring stability to the Middle East. The Strait of Hormuz will remain closed as long as the U.S. does not change its behavior and accept Iran's conditions ‌to end the war, ⁠the ⁠newly appointed secretary of Iran's Supreme National Security Council said.Brent crude futures held near one-week highs in choppy trading, while the ​S&P 500 energy sector index climbed."As has been the case for months, it's just really hard to come to ​an agreement that works for everyone. Oil is a little higher, pricing in more uncertainty around that," said Ross Mayfield, investment strategy analyst at Baird in Louisville, Kentucky."The market has obviously gyrated around this ​conflict at times, but it hasn't been the big headwind that ⁠a lot ‌of people imagined it might be."Amazon and Alphabet each fell and weighed on ​the S&P 500 ​and Nasdaq, while SpaceX also dipped. Altern