The Dow Jones Industrial Average fell 347 points (0.7%) to 51,481, the S&P 500 lost 59 points (0.8%) to 7,683, and the Nasdaq Composite lost 248 points (0.9%) to 26,820. The S&P 500's decline was its largest daily percentage drop since August 20. Crude prices jumped after US President Donald Trump rejected a peace deal from Iran, though gains were pared on expectations of further talks. Rising oil prices and comments from Fed officials about potential rate hikes fueled inflation worries and pushed US Treasury yields higher. Boeing shares tumbled 6.9% after the FAA delayed 737 MAX 10 certification due to a new software issue. Bucking the trend, Nvidia shares gained 1.6% after announcing a US$150 billion share repurchase authorization.