NEW YORK — U.S. stocks opened lower on Monday as oil prices and Treasury yields jumped after President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz, and as a new pause in advanced artificial intelligence training at OpenAI weighed on chipmakers. The Dow Jones Industrial Average was down 317.04 points, or 0.61%, at 51,511.58 as of 9:56 a.m. Eastern time. Figures are from early trading and may change through the session.

In the first minutes of trading, the Dow was down as much as 0.71%, the S&P 500 had slipped 0.48% and the Nasdaq Composite had retreated 0.55%, while the small-cap Russell 2000 edged 0.07% higher, according to TheStreet. CNBC reported the Dow was off 377 points, or 0.7%, at one point, with the S&P 500 and Nasdaq each down about 0.5%. The declines followed a solid finish to last week. On Friday, the Dow gained 478.64 points, or 0.9%, to close at 51,828.62, with 22 of its 30 components higher. The S&P 500 rose 0.5% to 7,743.41 and the Nasdaq Composite rose 0.5% to 27,068.72, Zacks reported.

Oil was the first driver. Bloomberg reported that bonds and stocks fell as Middle East tensions flared after Trump rejected Iran's latest proposal to reopen the strait, which dented some of the optimism that lifted markets late last week. Trump turned down Iran's conditional offer and told aides he expects U.S. strikes on the country to resume after November's midterm elections, The Wall Street........

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