S&P 500 Edges Off Record as Oil Jumps 5% on Iran Doubts
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- S&P 500 closed little changed and edged down from its record after oil prices climbed roughly 5% on renewed Iran-related uncertainty.
- Intel led chip stocks lower while Nvidia also declined, as Investor's Business Daily framed the selloff as driven by "dimming optimism" for a U.S.–Iran deal.
Why it matters: A 5% spike in oil on fading U.S.–Iran deal hopes was enough to drag the S&P 500 off its record and pull chip leaders like Intel and Nvidia into the red, showing that geopolitical risk — not earnings — is currently steering the index.
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