US Stocks Fall 0.6% as US-Iran Talks Stall
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- US stocks fell Tuesday, with the Dow Jones, S&P 500, and Nasdaq each declining 0.6% following mild losses in the prior session.
- The US put peace negotiations with Iran on hold, suspending VP JD Vance's planned trip to Pakistan, as a temporary ceasefire is set to expire late Wednesday.
- President Trump signaled the US does not plan to extend the temporary ceasefire with Iran.
- Kevin Warsh, nominee for Federal Reserve chair, told his confirmation hearing he would "absolutely not" be Trump's "sock puppet" and pushed back on doing whatever the president asks.
- Tim Cook will step down as Apple CEO, with hardware engineering head John Ternus set to succeed him in a leadership change Wall Street is digesting.
- United Airlines (UAL) was set to report quarterly results after the bell, with investors watching for the impact of war-driven fuel cost increases.
Why it matters: With a ceasefire deadline expiring late Wednesday and US-Iran talks suspended, traders face the prospect of renewed hostilities and oil-price-driven cost pressure on companies like United Airlines reporting earnings. Warsh's confirmation hearing, where he distanced himself from Trump, adds Fed independence uncertainty to the geopolitical risk already driving the broad 0.6% selloff across all three major indices.
