Dollar Strength and Middle East Tensions Weigh on US Stocks

The US stock market had a subdued start to the week due to uncertainty over President Donald Trump's ability to close a deal with Iran on the opening of the Strait of Hormuz.

Zachary Hill, head of portfolio management at Horizon Investments, told CNBC that investors are tired of the back and forth between the US and Iran and are taking a cautious approach.

The Nasdaq Composite underperformed its peers, dropping 95 points or 0.32 percent to finish the session at 26,605.36.

The dollar flexed its muscles on Monday, climbing against nearly every major counterpart in a broad-based rally, with only the British pound managing to eke out a gain against the greenback.