US‑Iran Tensions Pull Street Down, Snap Nasdaq Streak
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- Iran closed the Hormuz Strait again, halting Indian shipping routes and raising geopolitical risk.
- Nasdaq saw its longest winning streak since 1992 end, snapping a multi‑day rally.
- S&P 500 retreated from its record high as Wall Street closed slightly down amid the tensions.
Why it matters: Investors lose the edge of Nasdaq’s record streak, which had lasted since 1992, prompting risk‑off selling and tighter credit spreads. The Hormuz Strait shutdown also delays Indian shipments, tightening trade flows and adding pressure on commodity prices.
