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The Nasdaq 100 dropped 0.7% to 29,801, pressured by chip producers and AI hyperscalers retreating from record highs.
The S&P 500 edged 0.2% lower to 7,508 after brushing a record peak earlier in the session, while the Dow Jones Industrial Average advanced roughly 160 points or 0.3% to 50,622.
Within the Dow, Procter & Gamble Co. (NYSE:PG) jumped 3.3% and Eli Lilly & Co. (NYSE:LLY) rallied up to 3.5%,
The Iranian state media reportedly announced a draft framework to reopen the Strait of Hormuz, only for the White House to deny the document. Speaking from his Cabinet meeting, President Donald Trump tempered ceasefire optimism, telling reporters, “We’re not there yet on an Iran deal.”
That dynamic was enough to send crude prices and long-end Treasury yields lower while equity markets fractured along sector lines.
WTI crude oil tumbled 3.9% to $90.26 per barrel, and Brent crude slid 3.6% to $95.99, both extending a multi-week decline as traders price out the most bullish scenarios for a prolonged Persian Gulf shock.
The yield on the U.S. 10-year Treasury note held near a two-week low at 4.49%, well off the 16-month high of 4.7% touched on May 20, as the energy slide eased inflation pressure.
Wednesday’s Performance In Major U.S. Indices
Index
Last
% Change
S&P 500
7,507.85
-0.15%
Dow Jones
50,622.11
+0.32%
Nasdaq 100
29,800.64
-0.67%
Russell 2000
2,916.10
-0.17%
Updated by 12:15 PM ET
According to the Benzinga Pro platform:
The Vanguard S&P 500 ETF (NYSE:VOO) slipped 0.2%.
The SPDR Dow Jones Industrial Average ETF Trust (NYSE:DIA) rose 0.3%.
The Invesco QQQ Trust (NASDAQ:
