US Stock Market Today: Wall Street Slips as Iran Tensions Lift Oil Prices and Support Gold Holds Above $5,000

US and European stocks started the day slightly lower as investors assessed the rising geopolitical risk associated with Iran, as well as concerns about artificial intelligence expenditures. Oil prices rose due to fears of supply risk, while gold prices remained close to the $5,000 mark.

US Stock Market Slips as Iran Headlines Cap the Rebound

Major US indexes traded modestly lower in morning trade. The S&P 500 fell about 0.2%, while the Dow Jones Industrial Average and NASDAQ also posted small declines. Treasury yields stayed steady, with the 10-year yield near 4.09%, as investors avoided big rate bets ahead of further inflation signals.

Strategists framed the Iran risk as a short-term volatility driver rather than a base-case market shift. In an email, Dennis Follmer of Montis Financial said markets could “look past” an Iran-related shock if diplomacy holds and any disruption stays contained. This view matched the cautious, risk-aware tone that has dominated recent sessions.

Lingering anxiety around AI also stayed in focus. Investors have questioned whether heavy capital spending by large technology firms will translate into profit growth. Some also worry about disruption risk in sectors that face rapid automation. Those themes continued to pressure chip and growth-linked shares on the day.

Oil Climbs on Supply Risk While Gold Stays Near $5,000

Crude prices continued their increase as traders factored in the potential for supply disruptions. According to Reuters, WTI futures had risen to about $66.35 per barrel and Brent to around $71.48 as markets reacted to the US-Iran tensions and the potential impact on the flow of oil through the Strait of Hormuz.

The oil price increase contributed to overall inflation sensitivity. With higher energy prices, near-term inflation readings could increase, making it more difficult to achieve rate cuts. This helped prevent bond yields from declining, even as equities eased, supporting the “risk-off” theme instead of a full-scale flight to safety.

Gold prices remained near the significant $5,000 level. Spot gold prices were around $4,980 per ounce, while April contracts were near the $5,000 level as investors weighed the potential for geopolitics against solid US economic fundamentals and the expected timing of policy easing. Gold prices have been supported by safe-haven flows despite a stronger dollar.

Currency moves stayed measured. The dollar strengthened as traders digested labor market resilience, while major peers slipped. In Europe, equity declines reflected both geopolitics and earnings-related stock moves, which pulled broader benchmarks lower.

Economic Data and Earnings Steer Sector Rotation

US data pointed to labor market stability. Initial jobless claims fell by 23,000 to 206,000 for the week ending February 14, below economists’ expectations. The drop suggested that layoffs stayed low, which can keep consumer demand supported and reduce pressure for rapid rate cuts.

Trade data added a separate macro headwind. The US trade deficit increased 32.6% to $70.3 billion in December 2025, according to the US Census Bureau. The report mentioned strong imports and weaker exports during the month, which can impact quarterly GDP estimates.

Earnings headlines also shaped single-stock moves. Walmart reported strong recent sales momentum but issued a profit outlook that some investors viewed as conservative, even as the stock moved around the release. 

Separately, Amazon surpassed Walmart in annual revenue, underscoring the scale of cloud and online retail growth.

Corporate Highlights 

• Amazon.com Inc. overtook Walmart Inc. as the largest global company by revenue.

• Alphabet Inc. faced a setback after Kathy Hochul dropped a robotaxi proposal outside New York City.

• AppLovin Corp. prepared plans to build a social networking platform.

• Deere & Co. raised its annual profit outlook on improving agriculture demand.

• DoorDash Inc. announced current-quarter orders growth above Wall Street expectations.

• Carvana Co. reported higher costs that pressured Q4 profit.

• Figma Inc. issued an annual revenue outlook that topped estimates.

• Morgan Stanley cut client pricing on its newly acquired EquityZen platform.

• Blue Owl Capital Inc. said it will restrict withdrawals from a retail-focused private credit fund.

• Klarna Group Plc posted a Q4 pretax loss and raised loan-loss provisions.

Overall, markets stayed risk-aware, with geopolitics and AI doubts keeping stocks soft while oil and gold held firm.

Also Read: US Stock Market Today: US Equities Hold Steady as Investors Reassess AI Risks and Tech Valuations