Stocks fall as AI rally pauses and US-Iran talks stall
Wall Street pulled back as profit-taking hit AI-linked names. At the same time, a stall in US-Iran peace negotiations pushed geopolitical risk back to the foreground.
Photo: Alistair Freeman / PexelsUS stocks closed lower as profit-taking weighed on AI-linked names, according to Investing.com. Chip and software firms on the Nasdaq led the decline, with investors trimming thematic positions after several weeks of strong gains.
Alongside the pullback, reports said the indirect US-Iran peace talks have entered a fresh impasse. Diplomatic sources used cautious language, saying the two sides remain apart on a draft nuclear timeline and on sanctions-relief sequencing.
Oil prices moved erratically during the session in step with the geopolitical headlines. Investors' next focus is the May employment report; the data may force a recalibration of expectations for the Federal Reserve's interest-rate path.
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