-- US equity indexes declined in midday trading Monday as deadlocked negotiations to end the Iran war and a resulting move higher in crude oil futures hit investor confidence.
The Nasdaq Composite fell 0.1% to 24,804.7, with the S&P 500 down slightly to 7,162.5, and the Dow Jones Industrial Average lower by 0.2% to 49,158.7.
In the absence of any face-to-face discussions in Pakistan this weekend, Iran offered a proposal to reopen the Strait of Hormuz and end the war, Axios cited a US official and two people with knowledge of the matter in a news report. That proposal, however, includes postponing nuclear negotiations between the two countries, according to the Axios report.
President Donald Trump plans to meet with top national security officials today, according to two sources, to discuss the new Iranian proposal that would reopen Hormuz, CNN reported.
Iranian Foreign Minister Abbas Araghchi is in Russia ahead of a meeting with President Vladimir Putin, following meetings in Pakistan and Oman. Araghchi gave Pakistani officials a list of "red lines" to be conveyed to the US, including "nuclear issues and the Strait of Hormuz," according to CNN.
West Texas Intermediate crude oil futures jumped 2.4% to $96.64, and Brent crude futures advanced 3.2% to $108.73.