S&P 500 and Nasdaq slip as Alphabet drops 5% and SpaceX plunges 16.4% amid U.S.-Iran talks

The United States and Iran held a first round of talks in Switzerland and agreed on a roadmap toward a final deal within 60 days, sending oil prices lower. Federal Reserve Chair Kevin Warsh struck a hawkish tone, prioritizing a return to price stability and pushing U.S. Treasury yields higher. The Nasdaq fell 1.32% as tech shares led by Alphabet (down 5%) slid, with Meta, Amazon and Microsoft also lower, while SpaceX sank 16.4%. Investors are watching Thursday’s PCE inflation data and Micron’s quarterly results due Wednesday.