All three major U.S. stock indexes were lower early in the session. The pullback appeared to reflect weaker investor sentiment as a U.S.-Iran agreement progressed more slowly than expected.
As of 9:50 a.m. on the 10th (local time), the Dow Jones Industrial Average was down 125.87 points, or 0.23%, at 53,911.06 in transaction on the New York Stock Exchange (NYSE).
The Standard & Poor's (S&P) 500 was down 2.00 points, or 0.03%, at 7,755.46, and the tech-heavy Nasdaq composite was down 32.57 points, or 0.12%, at 26,658.04 in transaction.
Progress on a U.S.-Iran agreement has stalled.
Esmaeil Baghaei, Spokesperson for Iran's Foreign Ministry, said that in talks with Oman over a new route through the Strait of Hormuz, they were not discussing transit fees at this stage, but added, "When providing maritime services, it is natural to receive corresponding compensation."
On the 9th, Iran's Foreign Minister Abbas Araghchi said, "We are not negotiating with the United States right now," and added, "There is no possibility of resuming talks until the United States stops violating the MOU and compensates for the violations."
In response, U.S. President Donald Trump hinted at economic pressure in an Axios interview the previous day, saying, "We are proceeding quietly regarding relations with Iran."
The Wall Street Journal (WSJ), citing comments from U.S. administration officials, reported that President Trump privately signaled to senior aides that he was willing to pull back from the war even if nuclear talks did not conclude, projecting that the war could end without a nuclear deal.
Market participants are focusing on this week's scheduled consumer price index (CPI) report. Bob Edward, chief investment officer (CIO) at Edward Asset Management, said, "Inflation is still high, but the prevailing view is that it is not that far from the 2% target," adding, "It's not a victory, but progress is being made."
International oil prices were rising. As of 10:24 a.m. local time, front-month West Texas Intermediate (WTI) crude for September 2026 delivery was up 2.88% at $80.43 a barrel from the previous session.