US equity close: Late selling on reports that talks are cancelled

US equities slipped into the close after growing concerns that planned talks were cancelled, with late selling sparked by a Tasnim report that Iran walked away and an AP report that JD Vance cancelled travel to Pakistan. Earlier comments from Donald Trump and former Fed official Warsh failed to calm markets, and a retail sales read was largely ignored. Risk-off flows hit major indices: the S&P 500 fell about 0.6%, the Nasdaq also dropped roughly 0.6%, the Dow fell 0.6% and small caps underperformed, with the Russell 2000 down ~1.0%. Canadian TSX weakness was larger (-1.5%). Overall the coverage frames the move as geopolitically driven market commentary, leaving traders cautious into the next session.