US Stocks Slide Amid Ongoing Middle East Tensions

Stocks on Wall Street closed lower on Monday despite a midday rebound after reports emerged that US President Donald Trump was open to offering sanctions relief to Iran. The move helped pull crude prices off their session highs, but Treasury yields extended last week's sharp gains.

The Dow Jones Industrial Average dropped 0.67% to 51,481.51, while the S&P 500 shed 0.77% to 7,7683.69 and the Nasdaq Composite saw out the session 0.92% weaker at 26,820.38.

Nvidia bucked the trend with a 1.7% rise after announcing plans to expand its share buyback programme by $150 billion, taking the total authorised repurchase capacity to $235 billion.