Oil prices tumble again on US-Iran deal; S&P 500 falls

Oil prices tumble again on US-Iran deal; S&P 500 falls By Caroline Valetkevitch and Amanda Cooper Wed, June 17, 2026 at 12:24 AM GMT+2 3 min read SPCX DX-Y. NYB By Caroline Valetkevitch and Amanda Cooper NEW YORK/LONDON, June 16 (Reuters) - Oil prices fell more than 5% on Tuesday, extending this week's losses on hopes a U. S.

-Iran deal to end the Middle East war will allow oil to flow through the Strait of ‌Hormuz, while technology shares weighed on the S&P 500 and Nasdaq. Details began to emerge of the U. S.

and Iran's interim deal, ‌with U. S. President Donald Trump saying it will rule out a nuclear weapon for Tehran and a U.

S. official saying it allows Iran to sell oil upon signing. Brent crude futures fell $4.

21, ​or 5. 1%, to settle at $78. 96 a barrel, while U.

S. West Texas Intermediate (WTI) crude fell $4. 70, or 5.

8%, to $76. 05. SpaceX roared past Amazon's market valuation and briefly topped that of Microsoft , rapidly scaling the list of the world's most valuable companies on a topsy-turvy trading day fueled by frenzied action in the firm's newly listed options contracts.

SpaceX, which started trading on the Nasdaq on Friday, was up 4. 8% on the day. "It's still really all about the exuberance of SpaceX and what ‌SpaceX can pull along with it as far ⁠as the Nasdaq," said Bruce Zaro, managing director at Granite Wealth Management in Plymouth, Massachusetts.

Tech shares could struggle to keep the momentum going, with second-quarter U. S. earnings still weeks away, he said.

Nvidia , the world's most valuable maker of ⁠AI chips, surprised investors by tapping the bond markets for $25 billion. The company said the cash would be used for general corporate purposes and the debt sale was to establish a liquid benchmark for future issuance. Nvidia shares dropped 2.

4%. Investors were also cautious ahead of the Federal Reserve's policy update due on Wednesday afternoon, with ​some ​concerned new Fed Chair Kevin Warsh could strike a more hawkish tone at his ​first meeting. The Fed is widely expected to hold rates ‌steady at 3.

50% to 3. 75% and could drop its easing bias from the policy statement. DOW RISES While the S&P 500 and Nasdaq ended lower, the Dow registered a record closing high for a second straight day.

Technology led sector declines in the S&P 500, while financials led gainers. An index of semiconductors dropped 5. 7%.

The Dow Jones Industrial Average rose 328. 64 points, or 0. 64%, to 51,999.

67, the S&P 500 fell 42. 94 points, or 0. 57%, to 7,511.

35 and the Nasdaq Composite fell 307. 60 points, or 1. 15%, to 26,376.

34. MSCI's gauge of stocks across the globe fell 2. 98 points, or 0.

26%, to 1,128. 30. The pan-European STOXX 600 index ‌rose 0.

25% and had another record closing high. Story Continues In foreign exchange, the dollar dropped on ​ongoing optimism over a peace deal with Iran. The dollar index, which measures the greenback against ​a basket of currencies including the yen and the euro, fell ​0.

14% to 99. 55, with the euro up 0. 16% at $1.

1609. The Japanese yen weakened 0. 06% against the greenback at 160.

43 per ‌dollar, after the Bank of Japan raised its benchmark rate ​by 25 basis points as expected to ​1%, its highest level since 1995. The Reserve Bank of Australia, meanwhile, held rates steady at 4. 35% in a unanimous decision, its first pause this year, even as inflation remains elevated.

The Australian dollar was little changed at $0. 707. The 10-year U.

S. Treasury note was last down 4. 5 ​basis points at 4.

424%. The $13 billion, 20-year note auction ‌was successful, and 20-year yields that peaked at 4. 938% during the trading day were at 4.

93%. Spot gold rose 0. 59% to $4,331.

14 an ​ounce.