Financial Wire

US Equity Markets Fall After Iran Blocks Strait, Stalls Peace Talks; Crude Oil Jumps

-- US equity indexes closed lower on Monday after Iran closed the Strait of Hormuz again and refused to continue peace talks, claiming the US "did not fulfill their obligations," sending crude oil prices sharply higher.

* The second round of US and Iran peace talks was planned to start in Islamabad on Monday, the Wall Street Journal reported. While Tehran hasn't publicly confirmed its participation, it has told regional mediators that it would send a team to negotiate, the report said.

* President Donald Trump said he's not likely to extend the two-week ceasefire with Iran, increasing the urgency for negotiators to conclude a deal to end the war, Bloomberg reported.

* May West Texas Intermediate crude oil rose $4.92 to settle at $88.77 per barrel, while June Brent crude, the global benchmark, was last seen up $4.67 at $95.05.

* Alphabet's (GOOG, GOOGL) Google is negotiating with Marvell Technology (MRVL) to develop two new processors optimized for AI inference tasks, The Information reported. Marvell shares rose 5.8%, the second-biggest gain on the Nasdaq.

* Norwegian Cruise Line Holdings (NCLH) shares fell 3.5%, the fourth-largest drop on the S&P 500, amid heightening tensions in the Middle East.

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