Stock Market Today: Dow, S&P 500, Nasdaq Futures Drop Despite Trump's 60-Day Waiver On Iran Sanctions

U.S. stock futures declined on Tuesday, as the Nasdaq 100, Dow Jones, and S&P 500 indices fell, following Monday’s mixed close. President Donald Trump warned he will “do what I have to do” if Tehran fails to stick to a newly negotiated peace roadmap, which initiated a 60-day U.S. waiver on Iranian sanctions, according to Reuters. Trump added that upcoming weapons inspections would enforce “nuclear honesty,” though Iranian officials denied that discussions regarding its nuclear program had begun. Meanwhile, the 10-year Treasury bond yielded 4.48%, and the two-year bond was at 4.19%. The CME Group’s FedWatch tool‘s projections show markets pricing a 67.9% likelihood of the Federal Reserve leaving the current interest rates unchanged during July’s meeting. The SPDR S&P 500 ETF Trust (NYSE: SPY) and Invesco QQQ Trust ETF (NASDAQ: QQQ), which track the S&P 500 and Nasdaq 100, respectively, were lower in premarket on Tuesday. The SPY was down 1.31% at $734.66, while the QQQ declined by 2.79% to $717.38.