US Stock Market Today: Wall Street Slips From Record Highs as Renewed US-Iran Tensions Weigh
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US stocks fell on Monday due to renewed US-Iran tensions, which lifted oil prices and weighed on investor sentiment. The S&P 500 and NASDAQ retreated from record highs, while energy stocks rose and companies with high fuel costs fell.
US stocks declined on Monday as renewed tensions between the US and Iran impacted investor sentiment. The S&P 500 and NASDAQ fell from record highs as oil prices rose due to Iran's restriction of traffic through the Strait of Hormuz. Marvell rose on reports of AI chip talks with Google, while QXO fell after announcing its $17 billion acquisition of TopBuild. Energy stocks gained, with the S&P 500 energy sector up 0.9%, as oil prices climbed nearly 5% to $95 per barrel. Companies with high fuel costs, such as Norwegian Cruise Line and American Airlines, saw their stocks decline. The CBOE Volatility Index rose to a one-week high, indicating increased short-term caution among traders.
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