US stocks close lower as hopes for Hormuz reopening fade

US stocks ended Tuesday’s session lower as investor hopes for the reopening of the Strait of Hormuz faded, renewing doubts over whether the US and Iran could reach a settlement to the broader conflict in the Middle East.

The Dow Jones Industrial Average fell 0.34%, or 184 points, to 53,791. The broader S&P 500 declined 0.32%, or 24 points, to 7,728, while the Nasdaq Composite dropped 0.60%, or 159 points, to 26,445.

In Europe, the STOXX Europe 600 ended flat at a record 660 points for the second consecutive session.

The UK’s FTSE 100 fell 0.17% to 10,844 points, while Germany’s DAX rose 0.26% to 26,391 points and France’s CAC 40 declined 0.13% to 8,714 points.

In Europe, the STOXX Europe 600 ended flat at a record 660 points for the second consecutive session.

The UK’s FTSE 100 fell 0.17% to 10,844 points, while Germany’s DAX rose 0.26% to 26,391 points and France’s CAC 40 declined 0.13% to 8,714 points.

Japan’s stock market was closed for the Mountain Day public holiday and is set to resume normal trading tomorrow.

Brent crude futures for October delivery rose 1.36%, or $1.19, to $88.91 a barrel.

US West Texas Intermediate (WTI) crude futures for September delivery gained 1.30%, or $1.07, to $83.20 a barrel.

Gold futures for December delivery rose 0.48%, or $21.4, to $4,441.1 an ounce.

Investor sentiment weakened as renewed concerns over the continued closure of the Strait of Hormuz lifted oil prices and reignited inflation fears, while markets awaited US consumer and producer price data due later this week.