Oil fell below $80 a barrel after the US granted a 60-day waiver on sanctions on Iranian oil, a move that could allow more crude to return to global markets. Vice President Vance said US-Iran talks made "significant progress," pointing to a potential easing in supply concerns tied to the region. At the same time, US equities weakened, with the S&P 500 and Nasdaq falling as Alphabet, Amazon, Meta and Microsoft each dropped 2% to 5% amid worries over AI and rising Treasury yields.