US Stocks Weaken from Record Highs, Pressured by Middle East Conflict and Energy
US stocks retreated from record highs on Monday (June 1), driven by conflicting signals regarding the war in the Middle East.
Rising energy prices and geopolitical uncertainty added pressure to the corporate sector, with the Dow Jones Industrial Average falling 150 points, while the S&P 500 and Nasdaq 100 posted slight declines.
Iran announced it was suspending talks with the US until Israel halts its attacks on Gaza, following renewed attacks between Iran and the GCC countries. This statement contradicted President Donald Trump's earlier optimism, which had called dialogue with Tehran promising.
Traditional economic sectors in the Dow, including JPMorgan and Visa, were weighed down, falling 1%, reflecting investor concerns about the impact of geopolitics and rising energy costs on corporate profitability.
Meanwhile, the technology and AI sectors remained market leaders. Nvidia surged more than 2% after launching its new RTX Spark Superchip for the PC market, rivaling AMD and Intel, which each fell about 5%.
Nvidia's efficiency and innovation fueled positive momentum in software and hyperscaler stocks. Microsoft and Oracle each surged 4%, confirming that positive sentiment in the AI sector remains a key market driver despite geopolitical pressures.
Source: Newsmaker.id
