{
  "id": 10468558,
  "title": "US stocks: US market drops as Trump’s rejection of Iran peace plan lifts oil prices",
  "url": "https://urgent.news/2026/09/28/us-stocks-us-market-drops-as-trumps-rejection-of-iran-peace-plan",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T13:54:46.000Z",
  "source": {
    "name": "The Economic Times - Top News",
    "slug": "the-economic-times-top-news",
    "url": "https://economictimes.indiatimes.com/markets/us-stocks/wall-street-guide/us-stocks-wall-st-opens-lower-as-oil-spikes-after-trump-rejects-iran-peace-proposal/articleshow/134544649.cms"
  },
  "original_language": "en",
  "account": "US stocks experienced a significant drop on Monday as President Donald Trump rejected an Iranian proposal aimed at ending the conflict, leading to a rise in crude prices and subsequent concerns over inflation. The Dow Jones Industrial Average fell 245.02 points, or 0.47%, to 51,583.60, while the S&P 500 declined by 36.08 points, or 0.46%, to 7,707.50. The Nasdaq Composite also saw a drop of 175.16 points, or 0.65%, to 26,893.56.\n\nNvidia demonstrated some support for the broader market, rising 3.2% after approving a $150 billion share repurchase, the largest ever in its history. Iran presented a peace proposal at the United Nations General Assembly in New York, which was conveyed to the United States through Qatari mediators. Trump announced on Saturday that he had rejected the offer, although he later told Axios that he anticipated US negotiators to continue talks that week.\n\nCrude prices surged by 2%, reaching approximately $107 per barrel. This price increase also impacted Treasuries, pushing longer-dated yields to record highs. Art Hogan, chief market strategist at B Riley Wealth, attributed the upward pressure on inflation to energy, which remains a consistent factor in inflation rates, driving the Federal Reserve to raise interest rates.\n\nThe S&P 500’s Consumer Discretionary sector led the declines, with DoorDash and Carvana dropping by 6% and 5%, respectively. Investors found some relief on the trade front after the US-China summit concluded last week, with both countries agreeing to reduce tariffs on $60 billion worth of goods imported from each other. The trade truce was extended by two months, until January 10.\n\nLooking ahead, traders anticipate a 68% chance that the Federal Reserve will raise interest rates by at least 25 basis points in October, following their September hike. Economic indicators such as the August Personal Consumption Expenditures Price Index and September nonfarm payrolls report are due to be released, providing more insight into the Fed's policy approach.",
  "summary": "Following President Trump's dismissal of Iran's peace proposal, US market indexes experienced a downward trend, spurred by a notable surge in crude prices. This escalation raised inflation worries, consequently leading to an uptick in Treasury yields and impacting economic outlooks. Meanwhile, Nvidia's stock showed resilience, buoyed by an announcement of substantial share repurchases, albeit…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Wall St opens lower as oil spikes after Trump rejects Iran peace proposal",
        "url": "https://urgent.news/2026/09/28/wall-st-opens-lower-as-oil-spikes-after-trump-rejects-iran-peace",
        "published": "2026-09-28T13:41:54.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}