Stocks Pare Losses After Trump’s Remarks on Iran: Markets Wrap
(Bloomberg) — A rally in oil prices eased as President Donald Trump said the US won’t attack Iran before the November midterm elections, driving stocks and bonds away from session lows.
Brent crude trimmed its advance to around $104. Longer-term Treasuries outperformed ahead of a $22 billion sale of 30-year debt. The S&P 500 edged only mildly lower, though a slide in chipmakers continued to weigh on index.
Trump’s comments follow recent reporting that he was mulling plans to strike Iran before the midterm contests and that the White House had asked the Pentagon to prepare options for strikes beforehand.
Corporate Highlights:
The Trump administration said it would suspend an immigration program for multiple tech firms, including Microsoft Corp., alleging widespread abuse of a worker visa system. Broadcom Inc. has held early discussions to arrange financing to help OpenAI purchase the custom artificial-intelligence chips the pair is developing together, according to people familiar with the matter. Alphabet Inc.’s Google announced a Gemini agent for the workplace, ramping up competition with OpenAI, Anthropic PBC and Microsoft Corp. for corporate customers. Chipotle Mexican Grill Inc. jumped after the Financial Times reported that Starbucks Corp. has worked with advisers in recent months on a takeover proposal for the burrito chain. PepsiCo Inc. sounded the alarm over its North American soda business — a fresh concern for a company that’s also working to turn around its snack sales. What Bloomberg Strategists say…
“Contrary to popular belief that stocks have shrugged off higher rates, plenty of damage has already been done. Nowhere is the strain more visible than in small caps.”
—Tatiana Darie, Macro Strategist, Markets Live. For the full analysis, click here.
Some of the main moves in markets:
Stocks
The S&P 500 fell 0.2% as of 12:33 p.m. New York time The Nasdaq 100 fell 0.5% The Dow Jones Industrial Average fell 0.2% The MSCI World Index fell 0.4% Philadelphia Stock Exchange Semiconductor Index fell 1.1% Currencies
The Bloomberg Dollar Spot Index rose 0.1% The euro was little changed at $1.1188 The British pound was little changed at $1.3206 The Japanese yen was little changed at 158.19 per dollar Cryptocurrencies
Bitcoin fell 2.6% to $81,206.7 Ether fell 5.7% to $2,427.15 Bonds
The yield on 10-year Treasuries declined two basis points to 5.26% Germany’s 10-year yield advanced two basis points to 3.49% Britain’s 10-year yield advanced four basis points to 5.48% The yield on 2-year Treasuries advanced two basis points to 4.79% The yield on 30-year Treasuries declined four basis points to 5.63% Commodities
West Texas Intermediate crude rose 3% to $90.97 a barrel Spot gold rose 0.2% to $4,119.96 an ounce ©2026 Bloomberg L.P.
