Nasdaq Falls as Iran Sanctions Threat and Canada Tariffs Hit Stocks Together

The Nasdaq dropped in Monday's session after Treasury Secretary Scott Bessent promised an 'economic D-Day' announcement targeting Iran, a threat that raised questions about how new sanctions might hit China, the largest buyer of Iranian crude. Oil prices moved lower even with that threat hanging over the market, a sign traders are not yet convinced the sanctions will materially cut supply. At the same time, President Trump's tariff hike on Canada knocked down U.S. automaker stocks, adding a second source of pressure on the broader market. Gold and silver moved in opposite directions: gold rose as investors sought safety, while silver slipped, a split that suggests the rally is being driven by risk aversion rather than a broad commodities move. What remains unresolved is whether Bessent's Iran announcement will translate into sanctions that actually restrict Chinese purchases of Iranian oil, or whether it ends up as rhetoric that fades within days.