Markets Tumble Amid Renewed Hopes for Middle East Negotiations

Major stock indexes fell on Monday as oil prices eased back from earlier highs. The Nasdaq led Wall Street lower, despite shares of Nvidia rising after the chipmaker boosted its share buyback authorization by a record $150 billion.

Nvidia rose 1.7%, closing off earlier highs, but the S&P 500 and Dow Jones Industrial Average fell 0.8% and 0.7%, respectively.

The US dollar strengthened against the euro, yen, and other major currencies, with the euro down 0.21% at $1.1367.

US Treasury yields rose to multi-year highs, with the 30-year bond yield reaching 5.5704%, but eased back later in the day.