Global Stocks, Oil Prices Dip as US Sanctions on Iran Loom

Global stocks and oil prices dipped on Monday as investors waited for US Treasury Secretary Scott Bessent to outline sanctions on Iran, which Washington says must relinquish control over the Strait of Hormuz.

Oil futures fell around 2% ahead of the announcement as some traders took profits after big gains last week.

The tech sector was also on edge ahead of Nvidia's results on Wednesday, with analysts expecting quarterly revenue to almost double to around US$92 billion.

Markets imply a 40% chance that the Federal Reserve will raise interest rates when it meets on September 16 and are fully priced for a move by December.