Stocks Fall as Oil Rises Due to US-Iranian Conflicts – US Market Wrap

Stocks fell as bond yields increased on concerns that an escalation of hostilities between the United States and Iran might jeopardize prospects for a peace settlement, with rising energy costs stoking inflation fears.
As stocks plummeted from a record high, the S&P 500 ended a nine-day winning streak. A significant ETF tracking software company dropped more than 4%. West Texas Intermediate crude stabilized at $96. Higher oil prices and hints of labor-market improvement spurred losses in Treasuries, increasing the predictions that the Federal Reserve will raise interest rates again. Bitcoin’s selloff has deepened.
The United States and Iran battled overnight, with Kuwait and Bahrain caught in the crossfire of one of the most dramatic flare-ups since a ceasefire was implemented in early April.
The events come after days of growing tensions, including Israeli operations against Hezbollah in Lebanon, which threaten to derail US-Iran talks. The sides have agreed on a general framework for extending the truce and reopening the Strait of Hormuz, but negotiations over the precise details are dragging on.
Alphabet increased its equity raising to $84.75 billion from $80 billion just two days earlier in order to assist in funding its expanding artificial intelligence spending plans.
Meta is selling businesses access to an AI agent for the first time, in its latest attempt to generate income to offset the company’s significant investments.