Brent crude fell below $80 a barrel, trading at $78.50, after the U.S. and Iran detailed a memorandum of understanding. The accord promises a waiver of sanctions on Iranian oil sales and calls for lifting the U.S. and Iranian blockades in the Strait of Hormuz. Traders took the news as a cue to trim exposure to energy, pushing the benchmark down 0.6%.

Investors awaited Wednesday’s Federal Reserve decision, where policymakers are expected to keep rates steady. Chair‑designate Kevin Warsh will speak after his first meeting, and analysts are divided on whether the Fed’s easing bias will survive. U.S. stock futures rose, with the S&P 500 up 0.3%, the Dow 0.1% and the Nasdaq 0.8% after a 4.4% jump in Micron Technology.

Asian equity moves were uneven. Japan’s Nikkei climbed 0.7% and South Korea’s Kospi surged 1.6% to a fresh record, buoyed by AI‑related rallies and a 5.8% gain in SK Hynix. Shanghai’s composite edged up 0.4%, while Hong Kong’s Hang Seng slipped 0.8% as consumer stocks weakened. The mixed picture underscores how geopolitical relief can lift energy and tech, yet regional risk remains.