US Stock Market Today: Wall Street Slides as US-Iran Tensions Push Oil Higher and Chip Stocks Lower

US stocks moved lower on Monday as tension between the United States and Iran pushed investors toward caution. The S&P 500 fell 0.4% at its session low, while the NASDAQ Composite dropped 1%. The Dow Jones Industrial Average traded about 56 points lower, or 0.1%.

The market weakened after President Donald Trump said the United States was reinstating a blockade aimed at Iranian shipping through the Strait of Hormuz. Oil prices rose after the announcement, adding pressure to growth stocks and other risk assets. The S&P 500 had posted two straight weekly gains despite volatile chip shares and renewed Middle East risks across global markets.

Oil Surges After New Hormuz Order

Trump said the United States would act as ‘THE GUARDIAN OF THE HORMUZ STRAIT’ and charge 20% on cargo shipped through the route to cover security costs. He said the action would stop Iranian ships and customers from entering or leaving through the waterway.

West Texas Intermediate crude futures gained more than 5% and moved above $75 per barrel. Brent crude climbed about 5.3% to $80. The gains followed another exchange of strikes between the United States and Iran over the weekend, renewing concern over energy supplies and shipping access.

Chip Stocks Lead the Market Decline

Semiconductor shares posted some of Wall Street’s steepest losses. US-listed shares of SK Hynix fell 7% after the South Korean chipmaker surged 13% during its NASDAQ debut on Friday. The move added pressure to a group already retreating from recent highs.

Micron Technology dropped about 6% to 7%, while Sandisk lost close to 10%. Seagate Technology fell 6%. Advanced Micro Devices and Intel traded around 4% lower. The Philadelphia Semiconductor Index slid 3.6% and stood more than 14% below its late-June record.

Technology became the weakest S&P 500 sector during the morning session, falling about 1.3%. Four of the index’s 11 sectors traded lower early. The NASDAQ posted the largest decline among the three major indexes. Meanwhile, gains in IBM and UnitedHealth helped limit losses in the Dow.

“Markets have started the week firmly on the defensive,” Daniela Hathorn, senior market analyst at Capital.com, said. She linked the weaker mood to renewed US-Iran tension and uncertainty over the path toward a lasting agreement.

Earnings and CPI Move into Focus

Wall Street also prepared for a busy week of corporate results. JPMorgan Chase, Goldman Sachs, Morgan Stanley, Bank of America, Citigroup and Wells Fargo will report. Netflix, Johnson & Johnson and UnitedHealth also have results scheduled.

Analysts expect second-quarter S&P 500 earnings to rise by more than 23% from a year earlier, based on FactSet and LSEG estimates. Investors will track bank results for signs of consumer strength and credit quality. Technology earnings will also draw attention as companies update artificial intelligence spending plans.

The June consumer price index report arrives Tuesday morning. The data could reshape interest-rate expectations after higher oil prices renewed inflation concerns. Federal Reserve Chair Kevin Warsh will also deliver his first monetary policy testimony before Congress on Tuesday.

Apple drew attention after Citi raised its price target to $365 from $315. The bank said Apple could gain market share despite slower demand. Analyst Asiya Merchant said ‘selective price increases’ may offset margin pressure. She also cited the September iPhone 18 launch as a possible catalyst before Apple reports earnings on July 30.

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