Web Trader MT5 
Oil prices moved lower after reports that U.S.-Iran negotiations in Switzerland made progress toward a final peace agreement within 60 days
U.S. stock futures declined early Tuesday following a sharp sell-off in major technology stocks. S&P 500 futures fell 0.5%, Nasdaq 100 futures lost nearly 1%, and Dow futures slipped 0.1%.
During Monday’s session, weakness in the technology sector pushed the S&P 500 down 0.3% and the Nasdaq Composite down 1.3%. The Dow Jones Industrial Average outperformed, rising 0.3%, supported by gains in shares of Caterpillar.
Asian markets also turned lower after initially trading higher. South Korea’s KOSPI dropped more than 6%, while Japan’s Nikkei 225 fell 1.5%, ending an eight-session winning streak. Markets in China, Hong Kong, India, and Australia also posted losses.
Meanwhile, investors are now focused on preliminary June PMI manufacturing and services data, which could provide fresh insight into the strength of the U.S. economy.
Gold prices traded relatively unchanged near $4,190 per ounce on Tuesday as investors continued to evaluate developments surrounding U.S.-Iran peace negotiations.
Market participants continue to monitor energy prices closely, as fluctuations in oil markets remain a key driver for gold. Any setbacks in the peace talks could boost oil prices and increase demand for gold as a safe-haven asset.
At the same time, gold faces headwinds from a more hawkish Federal Reserve. Fed Chair Kevin Warsh signaled a strong commitment to fighting inflation, prompting markets to increase expectations for a U.S. rate hike later this year.
Traders now see nearly an 89% probability of a Fed rate hike in December, up sharply from 61% before last week’s FOMC meeting, limiting gold’s upside as higher interest rates reduce the appeal of non-yielding assets such as gold.
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