Global Stocks Slide as Investors Await Iran Sanctions Details

Global stocks fell on Monday as investors awaited details of threatened US sanctions on Iran. The Canadian dollar also dropped after Prime Minister Mark Carney said his country would respond to US tariffs with levies of its own. Oil prices eased, with futures down over 1% ahead of the announcement.

Nvidia's earnings report on Wednesday is expected to be a major focus for investors, with quarterly revenue seen almost doubling to $92 billion. Analysts are also looking for clarity on the outlook for US interest rates from Federal Reserve Chair Kevin Warsh at an event in Jackson Hole, Wyoming.

Warsh's speech may disappoint some market participants, who have high expectations for a rate hike. However, his well-known aversion to forward guidance suggests he may focus on other topics, such as the Fed's balance sheet shrinkage.