Markets slipped as the fragile ceasefire unraveled, with Iran declaring the Strait of Hormuz still closed and oil surging back above $95 a barrel ahead of Tuesday's expiration deadline. Corporate dealmaking remained active with Eli Lilly, QXO, and USA Rare Earth all announcing major acquisitions, while a presidential executive order on psychedelic drug research sent the sector soaring over 20%.

A news podcast encapsulating the most salient market news, brought to you by Finextra Pro and powered by Communify.

Open Finextra Pro now!