Wall Street indexes close lower as oil prices fall after U.S. holds back from conflict

From Yahoo Finance: 2025-06-19 22:15:00

Major Wall Street indexes closed lower on Friday as oil prices fell after Trump held back from immediate military action in the Israel-Iran conflict. The S&P 500 lost 0.21%, Nasdaq Composite shed 0.49%, and Dow Jones rose 0.09%. Stocks fluctuated throughout the session. Global benchmark Brent crude futures fell 2.3% to $77.01 a barrel.

Investors are cautious amid Middle East tensions. New sanctions on Iran, diplomatic approach by Trump. European foreign ministers urge Iran to engage with U.S. on nuclear program. MSCI’s global stock gauge fell 0.01%. Asian shares boosted by Hong Kong’s Hang Seng, South Korea’s Kospi on stimulus hopes.

Federal Reserve policymakers split on interest rates. Powell expects inflation amid tariffs. Waller suggests rate cut, Barkin sees no urgency. Treasury yields fall, dollar rises. Gold prices decline. Euro up at $1.1528. Index set to rise 0.6% this week. Middle East conflict supports demand for safe haven assets.

Read more: Wall Street choppy, oil dips as US holds back from Mideast military action