Stocks rise, oil falls as US squeezes Iran and traders await Nvidia
Why it matters: Lower oil eased some inflation pressure even as Washington widened sanctions to Iran's shipping, aviation, gold and tech sectors.
Asian and European stocks mostly climbed Tuesday while oil prices fell after the Trump administration escalated economic pressure on Iran and signaled it was prioritizing sanctions over immediate military action. Treasury Secretary Scott Bessent said the United States would target Iran's digital assets, technology, gold, aviation and shipping sectors and press other countries to curb trade with Tehran. Brent and WTI, which had climbed through much of August on Strait of Hormuz tensions, dropped more than 2% Monday before extending losses in Asian trading. Investors also looked ahead to Nvidia earnings, with markets treating the chipmaker as a test of whether AI-driven spending can still justify lofty valuations after another weak session for US tech stocks.