Brent Tops $107 As Tehran Rejects Ceasefire, Stocks And Gold Retreat: What's Moving Markets Thursday?

U.S. equities are retreating on Thursday, snapping this week’s tentative rebound, as Iran’s rejection of Washington’s latest ceasefire proposal drove Brent crude above $107 per barrel, pushed Treasury yields to fresh multi-session highs and sent gold lower again on intensifying inflation fears.

• SPDR Gold Shares stock is showing weakness. Why is GLD stock trading lower?

The White House confirmed it transmitted a 15-point peace plan to Tehran via Pakistan and maintained that talks were ongoing, but Iranian officials publicly rejected any direct negotiations — countering instead with a five-point framework that would grant Tehran sovereign control over the Strait of Hormuz.

Speaking at a Cabinet meeting, President Donald Trump said Iran "desperately wants to make a deal," adding that Tehran had offered the U.S. "eight boats of oil" and "very substantial talks" are underway.

That impasse has left markets pricing in a protracted conflict with no clear off-ramp, anchoring energy prices at elevated levels.

WTI crude oil surged 4.1% to $94.04 per barrel. Brent crude jumped 5.4% to $107.73.

By midday trading in New York, the S&P 500 fell 0.7%, to 6,547 points, while the Dow Jones Industrial Average declined 83 points, or 0.2%, to 46,346. The Nasdaq 100 slid 234 points, or 1%, to 23,929.

The Russell 2000 shed by 0.7%, to ...

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