Stalled U.S.-Iran Talks Trigger Global Markets Turbulence

U.S. stocks fell sharply on Wednesday as stalled negotiations between the U.S. and Iran pushed up oil prices and Treasury yields, sparking concern about potential economic instability.

The Dow Jones Industrial Average dropped 0.67% to 51,481.51, its lowest level in three months, while the Nasdaq Composite and S&P 500 fell 0.92% and 0.77%, respectively.

Boeing (BA) was among the worst performers, plummeting nearly 7% due to delays in certifying its 737 MAX 10 aircraft. Meanwhile, Nvidia (NVDA) bucked the trend with a gain of about 2%, thanks to an additional $150 billion share-repurchase authorization and the launch of its AI agent safety platform.

The strong dollar and rising Treasury yields weighed heavily on precious metals, causing gold to fall more than 4% intraday before settling at a 3.5% loss, while silver futures lost nearly 5%.