Stock Market Today: S&P 500 Falls From Record Highs as Iran Oil Shock Returns
Stocks in the U.S. pulled back from their record highs on Thursday, with oil prices spiking after the market closed. Fresh U.S.-Iran tensions put pressure on the “peace trade” that had fueled Wall Street’s gains earlier in the week. By the end of the session, the S&P 500, Nasdaq, and Dow all slipped into the red as earlier momentum faded. Timing is key here—investors are framing the Iran talks through the lens of inflation, not only geopolitics. A durable agreement might relieve crude supply strains through the Strait of Hormuz, that slim Gulf passage moving roughly a fifth of the world’s oil and gas before the conflict. But another escalation risks holding fuel prices and bond yields up.
