Stocks fall; oil prices off highs amid renewed hopes for Middle East negotiations
Global stock markets declined as investors reacted to rising Treasury yields and expectations of further Federal Reserve interest rate hikes. Meanwhile, oil prices fluctuated amid ongoing geopolitical tensions in the Middle East and potential peace negotiations.
Why it matters
Market volatility driven by interest rate policy and geopolitical instability directly impacts global economic stability and investor portfolios.
By Caroline Valetkevitch and Amanda Cooper
NEW YORK/LONDON, Sept 28 (Reuters) - Major stock indexes fell on Monday, as oil edged higher and Treasury yields extended their recent rise ahead of more expected interest-rate hikes from the Federal Reserve in coming months.
The Nasdaq led Wall Street lower, even as shares of Nvidia rose after the chipmaker boosted its share buyback authorization by a record $150 billion, eclipsing Apple's $110 billion plan it set out in 2024. Nvidia rose 1.7%, closing off earlier highs.
Oil prices gave back some earlier gains, with Qatari mediators set to hold talks with both the US and Iran to try to broker an elusive peace agreement in the seven-month-old US-Israeli war on Iran that has pushed up energy costs. U.S. crude rose 19 cents to settle at $92.60 a barrel and Brent gained 96 cents to settle at $105.28.
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