This content was published on
May 28, 2026 - 09:34
3 minutes
(Bloomberg) — Stocks fell while oil and bond yields climbed after fresh attacks in the Middle East fueled doubts over whether an end to the war is imminent.S&P 500 futures slipped 0.2%, pointing to the benchmark’s first decline in more than a week. Nasdaq 100 contracts dropped 0.3%. Brent rose 2.9% toward $97 a barrel after the US carried out airstrikes on an Iranian military site, clouding hopes for a diplomatic breakthrough. Bonds fell around the world as central bankers pointed to the inflationary risks stemming from the conflict.The latest upheaval between the US and Iran shows the fragility of the ceasefire and the push for a deal that traders have long seen as only a matter of time. The prospect of oil-driven inflation is also building across the global economy, with the Federal Reserve’s preferred inflation gauge expected to climb closer to 4% in data due Thursday.“The market is caught between two very different worlds,” said Aneeka Gupta, director of macro-economic research at Wisdomtree. “One where we get a deal, and you have a follow-through of a very powerful cyclical recovery, and another where the conflict process deepens the stagflation impact on the economy.”Europe’s Stoxx 600 fell 0.6%, with technology stocks outperforming despite weakness in Nasdaq 100 futures. A gauge for Asian stocks snapped its longest winning streak since February. The dollar rose for a third straight day. Bitcoin fell to its lowest level in more than six weeks.Corporate News:Snowflake Inc. shares jumped almost 30% in late trading after the software maker gave a stronger-than-expected annual outlook and signed a $6 billion multiyear agreement to use Amazon.com Inc.’s cloud services and chips. Salesforce Inc. gave a revenue outlook for the current period that fell just short of analysts’ estimates, unnerving investors already concerned about the possibility that artificial intelligence will disrupt the software business. Perella Weinberg Partners is cutting almost 10% of its workforce, including a dozen partners, as the investment bank channels resources into higher-performing areas of its business, according to a person familiar with the matter. Toyota Motor Corp.’s global sales posted their third straight month of year-on-year declines, as disruptions due to the Middle East conflict ripple across its business, with exports to the region down by more than 90%. Some of the main moves in markets:StocksThe Stoxx Europe 600 fell 0.6% as of 8:32 a.m. London time S&P 500 futures fell 0.2% Nasdaq 100 futures fell 0.3% Futures on the Dow Jones Industrial Average were little changed The MSCI Asia Pacific Index fell 0.9% The MSCI Emerging Markets Index fell 0.9% CurrenciesThe Bloomberg Dollar Spot Index rose 0.1% The euro fell 0.1% to $1.1613 The Japanese yen was little changed at 159.51 per dollar The offshore yuan was little changed at 6.7823 per dollar The British pound fell 0.2% to $1.3405 CryptocurrenciesBitcoin fell 2.6% to $73,164.49 Ether fell 3.5% to $1,987.59 BondsThe yield on 10-year Treasuries advanced two basis points to 4.51% Germany’s 10-year yield advanced two basis points to 3.01% Britain’s 10-year yield was little changed at 4.87% CommoditiesBrent crude rose 2.9% to $97.04 a barrel Spot gold fell 1.4% to $4,390.93 an ounce This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
