Wall Street stocks have opened lower today, as optimism over a possible peace deal in the Middle East dissipated, with the United States and Iran trading strikes and oil prices surging.
The Dow Jones Industrial Average fell 0.4 percent to 50,805.68 points shortly after trading started, while the broad-based S&P 500 Index was down 0.1% at 7,569.80.
The tech-focused Nasdaq Composite Index edged lower by 0.1% to 26,960.19.
Oil surged today, in line with a recent trend seen when prospects for peace in the Iran war have appeared clouded.
Art Hogan, from B. Riley Wealth Management, tells AFP the recent boom in equities — despite a clouded economic outlook due to the war — stems from several factors, including heavy investment in AI technology.
“Even though the AI revolution is moving and it’s only four years old, we still underestimate the revenue and earnings growth that it’s driving,” he says.
Markets have also backed away from recently rising US bond yields, stabilizing some investors’ outlook, he said.
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From the Liveblog of
Monday, June 1, 2026
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