![\"US](\"https:\/\/static.toiimg.com\/thumb\/msid-130239793,imgsize-1111329,width-400,height-225,resizemode-4\/-.jpg\")
<\/div>\n<\/div>\n<\/div>\n<\/section>\n<\/div><\/div>\n<\/div>\nWall Street opened the week on a cautious note, with key indices slipping on Monday as the collapse of US-Iran peace talks over the weekend rekindled geopolitical concerns and clouded the outlook for equities.Dow Jones Industrial Average fell 356.14 points, or 0.72%, to 47,572.11, while the S&P 500 dropped 22.25 points, or 0.33%, to 6,794.64 and the Nasdaq Composite declined 81.74 points, or 0.36%, to 22,821.15 as of 09:40 a.m. ET, Reuters reported.The setback reflects fading optimism from last week\u2019s ceasefire, with investors reassessing risk amid lingering uncertainty around the conflict and its economic implications.Adding to the pressure was the US military blockade of all maritime traffic entering or leaving Iranian ports and coastal areas, a move aimed at increasing pressure on Tehran.The CBOE Market Volatility Index, the market\u2019s fear gauge, climbed to 20.61 points, indicating a pickup in market volatility.“We expect renewed pressure on risk assets and upward moves in oil early this week,” said Benjamin Jones, global head of research at Invesco, Reuters quoted.“There has been a de-escalation in the armed conflict but the scale of the de-escalation and lack of clarity on when trade flows will resume leaves us broadly still in the same place — status quo — from an economic perspective,” he added.<\/p>\n <\/strong>Hopes of support from corporate earnings were dampened after Goldman Sachs shares fell 4.1% due to weakness in its fixed income, currencies and commodities division.“We don’t see the market really paying too much attention to the earnings beat. And it’s all because of prospects of higher inflation, weaker economic activity and a Fed that may be forced to stay on hold for a long, long time,” said Peter Cardillo, chief market economist at Spartan Capital Securities.Financial stocks declined 0.6%, adding to the broader market weakness.<\/p>\n Oil prices climbed back above $100 per barrel, intensifying inflation concerns after recent data showed a sharp rise in US consumer prices.Energy stocks were the only major sector in positive territory, with Chevron, Exxon Mobil and ConocoPhillips rising 1.8%, 1.2% and 2%, respectively, pushing the sector 1.2% higher.Travel-related stocks declined, with Delta Air Lines and JetBlue Airways falling 2.9% and 2.4%, respectively, on concerns that higher oil prices could increase fuel costs.Industrial supplies distributor Fastenal\u2019s shares fell 2.6% after earnings, while Sandisk gained 4% as it is set to join the Nasdaq-100 index on April 20.The shift in sentiment was also visible across other asset classes, with investors moving toward the safe-haven US dollar while trimming exposure to equities.Declining issues outnumbered advancers by a 2.43-to-1 ratio on the NYSE and by a 1.7-to-1 ratio on the Nasdaq.The S&P 500 posted 6 new 52-week highs and 11 new lows, while the Nasdaq Composite recorded 30 new highs and 51 new lows.Later in the day, data on existing home sales in the US is due, and Federal Reserve Governor Stephen Miran is scheduled to speak, which could offer further direction to markets.<\/div>\nGoldman Sachs drags financials after earnings
<\/h2>\n<\/p>\nOil above $100 lifts energy stocks
<\/h2>\n<\/p>\n