Stocks Falter as Oil Prices Surge Amid Iran War Concerns

Major stock indexes dropped as technology shares faltered and oil prices climbed due to worries over Iran war supply disruptions. Trump's delay on military action adds uncertainty. Tech and semiconductor indices declined, while energy stocks gained. Investors are fixated on Nvidia's upcoming earnings amid high market volatility.

Major stock indexes mostly faltered on Monday, with technology shares leading the decline amid climbing oil prices due to Iran war-related supply concerns. Longer-dated U.S. Treasury yields remained nearly flat after hitting their highest levels in over a year during overnight trading.

President Donald Trump announced on social media that an anticipated military attack on Iran was postponed, as diplomatic efforts continue. Despite this, crude prices surged, with U.S. crude settling at $108.66 a barrel. The tech sector's recent gains have led to investor caution ahead of Nvidia's upcoming earnings report.

Technology was down 1% in the S&P 500, largely contributing to the decline, while semiconductors fell by 2.5%. Energy stocks, however, rose by 1.8%, countering the tech slide. Insights from last week's China visit by Trump and the ongoing geopolitical tensions are affecting market confidence.