S&P 500 Falters Amid US-Iran Conflict as Oil Prices Soar

The S&P 500 index ended near flat on September 24, as investors focused on the escalating US-Iran conflict. The index fluctuated throughout the day, rebounding from session lows after Reuters reported that US and Iranian negotiators were exploring a phased path out of war.

Brent crude prices rose over 3% to nearly $107 a barrel following a Houthi missile attack on Saudi Arabia, reviving fears of supply disruptions. Treasury yields also increased, with the 30-year Treasury bond yield reaching its highest since 2004, making safe-haven Treasuries more attractive to investors.

AI-heavyweight companies were mixed, with Microsoft and Broadcom losing ground while Advanced Micro Devices rose. Meta Platforms climbed after unveiling a small handheld gadget for use with its AI assistant.