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The Dow Jones Industrial Average dished off 61.14 points to 49,169.59.
The much broader index shed 3.69 points to 7,161.35.
The NASDAQ faltered 43.09 points to 24,796.32.
U.S. President Donald Trump on Saturday scrapped plans to send U.S. special envoy Steve Witkoff and Jared Kushner to Pakistan for ceasefire talks related to Iran, noting the negotiations could happen by phone.
“Too much time wasted on traveling, too much work!” the president wrote in a post on Truth Social. “Nobody knows who is in charge, including them. Also, we have all the cards; they have none! If they want to talk, all they have to do is call!!!”
Iran’s Foreign Ministry spokesperson Esmaeil Baqaei said no meeting between Tehran and Washington is currently planned.
Qualcomm changed direction and gained 30 cents to $149.15, after TF International Securities analyst Ming-Chi Kuo said in a post on X that OpenAI is working with Qualcomm to develop smartphone processors.
Prices for the 10-year Treasury turned lower, eking yields up to 4.33% from Friday’s 4.31%. Treasury prices and yields move in opposite directions.
Oil prices increased $1.98 to $96.38 U.S. a barrel.
Gold prices slid $52.50 to $4,688.40 U.S. an ounce.
