Brent Crude Drops 6% as US-Iran Talks Loom, Dow Hits Record High

Brent crude fell nearly 6% on expectations of US-Iran negotiations, while the Dow Jones reached a record close. Tech and optical communication stocks surged, with Amazon surpassing $3T market cap.

Woofun AI reports that US President Trump characterized his latest proposal to Iran as the "last opportunity", signaling a potential diplomatic shift after canceling planned military strikes. He indicated that negotiations have commenced, focusing initially on the Strait of Hormuz and subsequently on denuclearization, with outcomes expected within one to two days. While Iran denied formal talks, citing only temporary safety arrangements with Oman, Bitget data shows Brent crude oil declined by nearly 6% on Monday amid these geopolitical developments.

US equity markets extended their rebound, with the Dow Jones Industrial Average rising 1.3% to a record closing high, the S&P 500 up 1.48%, and the Nasdaq gaining 2.1%. Technology leaders drove the rally, as Microsoft and Google climbed nearly 5%, Meta rose 6%, and Amazon increased 4.6% to exceed a $3 trillion market capitalization for the first time. Semiconductor and optical communication shares also advanced significantly, with Applied Optoelectronics surging 16.88% and Nvidia up 2.94%, while storage sector performance remained mixed.