Wall Street Stocks Tumble Amid Iran Tensions and Earnings Anxiety

Wall Street stocks fell on Monday as investors digested the Trump administration's warning of an 'economic D-Day' for Iran. US Treasury Secretary Scott Bessent used the phrase in an opinion article published by the Financial Times.

The Dow Jones Industrial Average initially dropped 15.1 points, or 0.06%, to 53,261.95, but later rose 0.1%. The S&P 500 fell 11.0 points, or 0.14%, to 7,663.38, and the Nasdaq Composite was down 115.1 points, or 0.44%, at 26,065.32.

Markets are also eyeing US government bond yields, which rose to multi-year highs last week due to concerns about rising energy prices and the country's mounting government debt. Bessent could consider using the Treasury Department's nearly $1 trillion General Account to finance bond buybacks rather than relying on short-term Treasury bills.

Nvidia shares fell 2.44% ahead of its closely watched earnings report, while semiconductor stocks Marvell Technology and Micron Technology each dropped more than 6%. US-listed shares of Alibaba declined 1.24%, but PDD Holdings rose 0.44% after the owner of Temu reported an 8% increase in second-quarter revenue.