Stocks Slip, Oil Jumps as US-Iran Conflict Escalates
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- Dow, S&P 500, and Nasdaq all slipped as the US and Iran exchanged fire and oil prices jumped, with bond yields also rising as the Gulf conflict escalated.
- Trump's reimposition of a Strait of Hormuz blockade helped drag SK Hynix to the bottom of chip stocks, marking the supply-disruption threat as a direct lever on the trade.
Why it matters: A Strait of Hormuz blockade targets a chokepoint carrying a significant share of global seaborne oil, and markets already pricing that supply risk pushed bond yields higher while dragging SK Hynix and chip stocks lower — a cross-asset risk-off pattern that puts energy-linked equity holders on the opposite side from rate-sensitive tech.
