Why did the market close down?
OvernightLast close · S&P 500 -0.8% at 7,516
Markets retreat as geopolitical tensions over Iranian shipping lanes trigger a broad sell-off in technology and semiconductor stocks.
Markets tumbled as President Trump announced a blockade on Iranian shipping, sparking fears of supply chain disruptions and inflation. The tech-heavy Nasdaq led the decline, falling 1.55% as investors rotated out of high-growth semiconductor and software names.
Semiconductor stocks faced a sharp sell-off, exacerbated by insider selling at Astera Labs and broader sector weakness. The group's decline reflects cooling sentiment toward AI-related hardware valuations.
Software and cloud infrastructure providers saw significant profit-taking today. AppLovin and CoreWeave led the decline as investors reassessed growth multiples in a volatile macro environment.
Energy stocks bucked the broader market trend, jumping 3.01% as the potential blockade of Iranian shipping lanes raised concerns over global oil supply. Kosmos Energy led the sector gains as investors priced in higher commodity prices.
Watch: Monitor developments regarding the Iranian shipping blockade and potential retaliatory measures, as these will dictate volatility in energy and tech sectors at the next open.
Featured stocks
Oracle Corporation
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Advanced Micro Devices, Inc.
AMD shares are sliding today, tracking a broader selloff across the semiconductor sector. The downward pressure follows a sharp decline in memory chip stocks triggered by the recent crash of SK Hynix, which has dampened investor sentiment toward AI-linked equities. While the company remains a key player in the data center space, it is currently facing headwinds from a wider market rotation that has impacted several of its industry peers.
Broadcom Inc.
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NVIDIA Corporation
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Axon Enterprise, Inc.
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Tesla, Inc.
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The Boeing Company
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Strategy Inc
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Palantir Technologies Inc.
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Meta Platforms, Inc.
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Microsoft Corporation
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Alphabet Inc.
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