Gotrade News - Wall Street closed lower on Tuesday (April 21) as US-Iran peace negotiations hit an impasse. The Dow Jones Industrial Average fell 293.18 points or 0.59% to 49,149.38.
Key Takeaways:
- All three major US indices declined with the S&P 500 down 0.63% to 7,064.01 and Nasdaq down 0.59% to 24,259.96
- VP JD Vance's cancelled Pakistan trip for Iran negotiations was the primary catalyst
- Oil prices surged with WTI up 2.81% to $92.13 and Brent up 3.14% to $98.48 per barrel
The S&P 500 fell 45.13 points or 0.63% to 7,064.01, marking a second consecutive session of losses. The Nasdaq Composite dropped 144.43 points or 0.59% to 24,259.96.
The primary pressure came from Vice President JD Vance cancelling his planned Pakistan visit for second-round negotiations with Iran. Reports from The New York Times and Axios indicated Tehran showed minimal commitment to attending the meeting.
Thomas Martin, senior portfolio manager at GLOBALT Investment, called the uncertainty around Iran resolution the single biggest risk factor. No clear path to resolution is visible at this point.
The energy sector was the sole gainer, rising 1.31% alongside surging crude oil prices. Amazon gained 0.66% after announcing a $25 billion investment in Anthropic.
UnitedHealth surged approximately 7% after beating Q1 earnings expectations and raising full-year profit guidance. Apple fell 2.52% following a leadership transition announcement.
Economic data showed retail sales rose 1.7% in March, exceeding economist expectations of 1.4%. This was the largest monthly increase since March 2025, partly driven by higher gasoline prices.
Brian Mulberry from Zacks Investment Management predicted a Strait of Hormuz resolution could come within days. Despite high volatility, Q1 corporate earnings showed double-digit growth with robust revenue.
Investors also monitored Kevin Warsh's confirmation hearing as Fed Chair nominee. Warsh affirmed his commitment to acting independently if confirmed as the central bank's leader.
Sources: Kumparan, Katadata, Bloomberg Technoz
