The S&P 500 and Nasdaq Composite slid 0.49 per cent and 0.46 per cent
Oil prices extend gains on US-Iran tension
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Oil prices rose on Thursday amid increasing concerns over a potential US-Iran conflict, as both countries ramped up military activity in the Middle East.
Brent, the global benchmark for crude, rose 1.88 per cent at 11.21am ET to $71.67 per barrel. West Texas Intermediate (WTI), which tracks US crude, increased 2.15 per cent to $66.59 per barrel. Brent neared its highest price since August after gaining more than 4 per cent on Wednesday, while WTI hit a six-month high.
The S&P 500 and Nasdaq Composite slid 0.49 per cent and 0.46 per cent.
President Donald Trump on Thursday appeared to set a 10-day deadline for Iran to strike a deal with the US on its nuclear programme, “otherwise bad things” will happen.
Mr Trump, speaking at a meeting of the Board of Peace, said “good talks are being had” and pressed Tehran to join the US on a “path to peace”.
“They can't have a nuclear weapon, it's very simple. You can't have peace in the Middle East if they have a nuclear weapon,” he said.
His remarks came after two days of Oman-mediated peace talked in Geneva. Vice President JD Vance said earlier this week that, despite some progress, distance remained between the two sides on several issues.
Mr Vance added that, despite talks, the President "still reserves the ability to say when he thinks diplomacy has reached its natural end”.
