Wall Street falls before Trump-Xi summit

Investors expected a decline in Wall Street indices ahead of the upcoming summit between Trump and Xi Jinping, as the Dow Jones, S&P 500, and Nasdaq all fell amid rising oil prices and U.S. Treasury yields due to tensions in the Middle East. These declines come amidst ongoing tensions between the United States and Iran, and the extension of a trade ceasefire between Washington and Beijing until January, with focus on issues related to trade, AI, Taiwan, and Iran relations. Additionally, oil prices rose above $100 per barrel, while the yield on 30-year U.S. Treasury bonds reached its highest level since 2004, amid expectations that tensions will continue and borrowing costs will remain high.

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