Stocks Fall, Oil Jumps on Doubts Over Peace Deal: Markets Wrap

A rally in oil drove stocks lower as a turbulent weekend in the Middle East cast doubt on prospects for peace talks between the US and Iran before their fragile ceasefire deal expires.

Equities fell from record highs, with the S&P 500 halting a five-day advance amid losses in several tech giants. President Donald Trump said it’s unlikely he would extend a truce with Tehran if an agreement isn’t reached before it ends, adding the Strait of Hormuz would remain blocked until an accord is finalized. Brent settled above $95. Treasuries and the dollar wavered.