Stock Market Update

[BRIEFING.COM] The Nasdaq Composite (-1.03%) is in last place on Monday afternoon, down more than 272 points.

Gold futures settled $47.40 lower (-1.1%) at $4,198.50/oz, as investors continued to unwind safe-haven positions amid signs of progress in U.S.-Iran nuclear negotiations and a broader easing of Middle East tensions. Reports that Iran has agreed to allow international nuclear inspectors and that formal talks could begin this week helped push crude oil prices sharply lower, reducing concerns about energy-driven inflation and diminishing gold's appeal as a geopolitical hedge. At the same time, hawkish Federal Reserve expectations and a firmer U.S. dollar remained a headwind for bullion, with markets increasingly pricing in the possibility of another Fed rate hike later this year. Higher interest-rate expectations tend to weigh on non-yielding assets such as gold.

Meanwhile, the U.S. Dollar Index adds +0.2% to $101.00.