On April 21 (local time), the Dow Jones Industrial Average fell 293.18 points, or 0.59%, to 49,149.38. The S&P 500 dropped 45.13 points, or 0.63%, to 7,064.01, and the Nasdaq slid 144.43 points, or 0.59%, to 24,259.96. Energy shares held up relatively well on rising crude prices, but the broader market was pressured by Middle East risks.
The main driver was concern that talks could be delayed. Reuters reported that Iran said it could discuss matters with the United States in Pakistan only if Washington drops what Tehran described as pressure and threats, and that negotiations would be difficult if those conditions are not met. Reports that the Pakistan meeting schedule was in doubt and that U.S. Vice President JD Vance’s trip was uncertain added to worries that tensions could rise again after the cease-fire ends.
Oil prices jumped. Brent crude rose 3.14% to $98.48 a barrel, and U.S. benchmark West Texas Intermediate gained 2.81% to $92.13 a barrel, on renewed concerns about supply disruptions in the Middle East. Gold fell more than 2% as a stronger dollar and rising Treasury yields outweighed safe-haven demand.
Investors also watched a Senate hearing for Kevin Warsh, a candidate to lead the Federal Reserve. Warsh said he would protect the Fed’s independence while also pointing to the need to overhaul the policy framework and communications. Treasury yields rose, and uncertainty over monetary policy returned to focus.
After the close, another development emerged. President Donald Trump said he would extend the cease-fire until Iran’s leadership presents a unified proposal. The statement came from the U.S. side, and Iran did not immediately respond, limiting any immediate easing of market anxiety.
* This article has been translated by AI.
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