01:40 PM EDT, 07/27/2026 (MT Newswires) -- (Updates with index/price moves, macroeconomic data, and company/geopolitical news from the first paragraph.)

US equity indexes traded mixed as investor concerns grew over circular investments in the artificial intelligence industry and as crude oil prices plunged after a pause in Iran strikes entered its third day.

The Dow Jones Industrial Average climbed 0.2% to 52,022.2 after midday Monday. The Nasdaq Composite retreated 0.7% to 24,809.9, and the S&P 500 declined 0.4% to 7,385.5.

Energy and technology led decliners while communication services and consumer staples topped the gainers.

Nvidia ( NVDA ) has agreed to expand its partnership with South Korean conglomerate SK Group through an artificial intelligence infrastructure initiative valued at more than $500 billion. The deal announced Saturday includes a long-term partnership between Nvidia ( NVDA ) and SK Hynix ( SKHY ) that will provide the US technology giant a stable supply of next-generation AI memory. Nvidia's ( NVDA ) shares dropped 5.1%, the Dow's steepest decliner. The SK Hynix ( SKHY ) stock plummeted 9.6%.

VanEck Semiconductor ETF ( SMH ) , with net assets of $77.2 billion, slumped 3.7%.

In geopolitical news, the US paused military attacks against Iran over the weekend, while Tehran also refrained from retaliatory action, according to a Commerzbank note. Meanwhile, Oman and Iran continued discussions on a transit arrangement for the Strait of Hormuz, with diplomats describing the negotiations as "moving in the right direction." Iranian officials likewise characterized the talks as "constructive."

Mediators have achieved progress in getting the US and Iran back to negotiations, the Associated Press reported, citing regional officials. The two regional officials said mediators led by Qatar and Pakistan were working to bridge the gap between Washington and Tehran to return to an interim ceasefire deal that had collapsed after the exchanges of fire, the news report said.

The front-month US West Texas Intermediate sank 7.4% to $82.72 a barrel, and global benchmark North Sea Brent plunged 8% to $89.06 a barrel.

Most US Treasury yields fell, with the 10-year down 3.4 basis points to 4.65% and the two-year lower by 1.9 basis points to 4.31%.

In precious metal markets, gold futures rose 0.4% to $4,087.1, and silver futures edged up 0.2% to $59.05.

Further in company news, Forte Biosciences ( FBRX ) shares surged 40% after the company agreed to be acquired by Belgian-Dutch immunology firm argenx (ARGX) in a deal worth about $2.2 billion.

Baker Hughes ( BKR ) shares jumped 6.6% after the company posted Q2 adjusted earnings and revenue that topped analysts' expectations.

In economic news, new orders for US durable goods rose by 0.3% in June following a decline of 4.0% in May compared with the expectations for a larger increase of 1.8% in a survey compiled by Bloomberg. Excluding a 0.2% decrease in transportation orders, new orders would have been up 0.6% in June after a 1.8% increase in May. Expectations were for a 0.8% gain.

The Dallas Fed's monthly manufacturing index rose to 1.3 in July from zero in June, below expectations for a 2.0 print.