Today's Recap · Monday, July 13, 2026
Stocks slip as oil jumps on Hormuz blockade headlines
Energy ripped higher, tech sank, and volatility picked up after new Hormuz blockade headlines pushed crude sharply higher.
The big picture. U.S. stocks finish lower, with the S&P 500 down 0.8%, the Nasdaq down 1.6%, the Dow down 0.3%, and the Russell 2000 down 0.8%. The day’s broad theme is a rotation away from tech and into energy, with the Energy sector up 3.0% while Technology falls 2.4%.
The move lines up with headlines around the Strait of Hormuz. CNBC Markets says Trump proposes a 20% toll on cargo through the strait and restarts an Iran blockade, while CNBC World says Brent jumps more than 9% after the move. WTI rises 9.3% and Brent rises 9.4% on the session.
Rates also push higher. The 10-Yr Treasury yield rises to 4.609%, the 5-Yr to 4.363%, and the 30-Yr to 5.098%. The VIX jumps 14.2% to 17.16, and the VIX 9-day spikes 35.7% to 15.13.
Crypto trades lower across the board. Bitcoin falls 2.6% to 62,122.3, Ethereum drops 2.2% to 1,765.29, and the total crypto market cap declines 2.36% to $2.2T.