New york: US stocks closed lower Tuesday as investor concerns mounted over the lack of an agreement between Washington and Tehran. The Dow fell 0.59%, or 292.96 points, to end the day at 49,149.60. The S and P 500 declined 0.63%, or 45.13 points, to 7,064.01, while the Nasdaq composite lost 0.59%, or 144.43 points, to 24,259.96. The Volatility Index (VIX), often referred to as the market's 'fear index,' rose 3.07% to 19.50. According to Anadolu Agency, market sentiment weakened after reports indicated that plans for US Vice President JD Vance's trip for negotiations with Iran were on hold amid what officials described as a lack of commitment from Tehran, raising doubts about prospects for a breakthrough. US President Donald Trump later announced a unilateral extension to a two-week ceasefire set to end Wednesday, though this came after markets closed. Trump had earlier expressed optimism about reaching a 'great deal' with Iran but warned that military action would likely resume if no agreement was signed by the ceasefire deadline. Meanwhile, oil prices experienced significant volatility as Trump announced the ceasefire extension with Iran, while Washington maintained its naval blockade. US benchmark West Texas Intermediate crude rose 3% to settle at $90.04 per barrel, and global benchmark Brent gained 3.5% to $98.85. The stock losses followed a weaker session on Monday when investors remained cautious ahead of the ceasefire deadline. The Nasdaq saw its 13-session winning streak, the longest since 1992, come to an end. In corporate news, UnitedHealth saw a significant rise of more than 6.9% after reporting better-than-expected first-quarter results and raising its earnings outlook. Amazon also gained more than 0.6% after agreeing to invest up to $25 billion in the artificial intelligence startup Anthropic. European stock markets mirrored the downturn, with the pan-European Stoxx 600 index falling 0.87% to 616.03 points. Britain's FTSE 100 lost 1.05% to 10,498.09, while Germany's DAX dropped 0.60% to 24,270.87. France's CAC 40 fell 1.14% to 8,235.72, Italy's FTSE MIB declined 0.63% to 47,903.29, and Spain's IBEX 35 was down 0.65% to 18,142.6.