US stocks end in red amid geopolitical uncertainty

US stocks ended Monday’s session lower after closing last week at record highs, as investors remained cautious despite hopes for a potential peace agreement between Washington and Tehran following escalating tensions in recent days.

The Dow Jones Industrial Average remained stable at 49,442.

Meanwhile, the broader S&P 500 fell 0.24%, or 16 points, to 7,109 points, while the Nasdaq Composite also edged down 0.26%, or 64 points, to 24,404 points, ending a 13-session winning streak for both indices.

In Europe, the STOXX Europe 600 inched down 0.82% to 621 points, with losses partially capped by a 1.61% gain in the oil and gas sector, which rose to 524 points.

The FTSE 100 lost 0.55% to 10,609 points, while Germany’s DAX shed 1.15% to 24,417 points, and France’s CAC 40 retreated 1.12% to 8,331 points.

In Japan, the Nikkei 225 added 0.6% to 58,824 points, nearing its all-time high, while the broader TOPIX rose 0.43% to close at 3,777 points.

In oil markets, June futures for Brent crude oil rose 5.64%, or $5.10, to $95.48 per barrel.

US May futures for WTI crude oil increased 6.87%, or $5.76, to $89.61 per barrel.

As for gold, June futures for the precious metal fell 1%, or $50.80, to $4,828.80 per ounce.

Uncertainty prevailed after Iran refused to hold peace talks over the weekend following the interception of an Iranian vessel by US forces. However, President Donald Trump said today that a negotiating delegation is heading to Pakistan, signaling a possible peace agreement as early as tonight.