Stock market today: Dow, S&P 500, Nasdaq drop after rally as Iran war drags on

Market Overview - US stocks experienced a decline, with the S&P 500 dropping by 0.4% and the Nasdaq Composite falling by 1%, while the Dow Jones Industrial Average rose by 0.4% [1] - The decline in stock prices was attributed to fading optimism regarding easing tensions in the Middle East, following reports of potential US troop deployment to the region [1] Oil Market - Oil prices initially fell due to expectations of reduced hostilities but rebounded sharply as fighting between Iran and the US-Israeli alliance continued, with West Texas Intermediate crude rising by 4% to above $92 per barrel and Brent crude jumping back above $104 [2] - The fluctuations in oil prices reflect ongoing geopolitical tensions and their impact on market sentiment [2] Geopolitical Developments - Positive market sentiment was observed after President Trump indicated productive discussions with Iran, but this optimism diminished when Iranian state media refuted claims of direct negotiations [3] - Tensions escalated over the weekend, with Trump warning of potential strikes on Iranian energy infrastructure, leading to Iranian threats against US assets [4] Upcoming Economic Indicators - Investors are focusing on upcoming US manufacturing data and the conclusion of the earnings season, with GameStop scheduled to report after market close [4]