U.S. and Canadian stocks closed lower on September 28 as President Donald Trump rejected Iran’s seven-day proposal involving the reopening of the Strait of Hormuz, intensifying concerns about oil supplies, inflation and further Federal Reserve rate increases. The Dow Jones Industrial Average fell 0.67% to 51,481.51, the S&P 500 declined 0.77% to 7,683.69 and the Nasdaq Composite dropped 0.92% to 26,820.38. Brent crude settled 0.92% higher at $105.28 a barrel, while the 10-year Treasury yield rose 6.1 basis points to 5.241%, its highest level since 2007. Canada’s S&P/TSX Composite Index fell 0.9% to 35,490. U.S. stock futures edged higher Tuesday after the losses as investors awaited consumer-confidence, job-openings and labor-turnover data. AMD separately agreed to acquire artificial-intelligence company World Labs for $8.2 billion.