Global stock markets declined on Tuesday. Oil prices rose sharply amid uncertainty over nuclear negotiations with Iran.
Investors shifted away from riskier assets. This followed a recent rally that had lifted major indexes.
The price of Brent crude oil jumped over 3%. The increase reflects concerns about potential supply disruptions.
Diplomatic talks aimed at reviving the 2015 Iran nuclear deal have stalled. A swift agreement would allow more Iranian oil onto the global market.
Without a deal, existing sanctions remain. This keeps a significant volume of oil from reaching consumers.
Treasury yields also moved higher. Markets showed little reaction to a congressional hearing involving former Fed Governor Kevin Warsh.
The overall mood was cautious. Traders are assessing geopolitical risks alongside persistent inflation pressures.
