Oil Prices Fall as US-Iran Tensions Ease, Stocks on Wall Street Experience Mixed Close

Stocks on Wall Street experienced a mixed close on Monday as oil prices dropped following a pause in US-Iran tensions and resumed negotiations to end the war. The S&P 500 rose less than 0.1%, while the Dow Jones Industrial Average increased by 0.5% and the Nasdaq composite fell 0.2%. The three major stock indexes are on track to close this month in the red, marking their second straight monthly loss.

The price of Brent crude oil dropped 6.3% to settle at $85.87 a barrel for October delivery after sharply escalating worries about global oil supplies last week. US crude oil prices also fell 7.5% to $82.61 a barrel for September delivery. The war between the US and Iran has had significant effects on the world's economy, including increased gasoline prices and rising shipping costs.

Markets in Europe and Asia closed higher than those on Wall Street. Bond yields decreased, with the 10-year Treasury yield falling to 4.65% from 4.69%. Technology companies played a major role in shifting market trends, with gains and losses among big names like Microsoft, Apple, Nvidia, and Micron Technology.