Stock Market Sell-Off on Ceasefire Uncertainty as Iran Negotiations Stall
U.S. stocks fell on April 21 as investors grew concerned a peace deal between the U.S. and Iran would not materialize before a ceasefire expired, with reports that Vice President JD Vance's negotiating trip was paused due to lack of commitment from Tehran.
Market Declines
The S&P 500 closed down 0.63% at 7,064.01, while the Nasdaq Composite settled 0.59% lower at 24,259.96, and the Dow Jones Industrial Average shed 293.18 points, or 0.59%, to finish at 49,149.38.
Negotiation Setbacks
Stocks dropped on Tuesday as investors grew concerned that a peace deal between the U.S. and Iran would not be struck ahead of a ceasefire that's set to expire Wednesday. Nervousness about the prospect of a U.S.-Iran peace deal was heightened on Wall Street amid reports that Vice President JD Vance's trip to join Iran negotiations was paused because of a lack of commitment from Tehran.
Asia-Pacific Mixed Reaction
South Korea's Kospi hit a record high Tuesday while the broader Asia-Pacific markets traded mixed, amid hopes for a resolution to the Middle East conflict, with the Kospi ending Tuesday's session at a record high of 6,388.47, gaining 2.72%, supported by tech stocks.