US Markets
Stocks fade as oil shock drives a risk-off close
Energy leads and tech lags after fresh Hormuz headlines rattle markets.
U.S. stocks end the day in the red, and the damage is heaviest in the growth trade. The S&P 500 falls 0.8% to 7,515.3398, the Nasdaq Comp. drops 1.6% to 25,873.1758, the Dow Jones slips 0.3% to 52,498.6406, and the Russell 2000 loses 0.8% to 2,953.1663. Every major U.S. index finishes below its 50-day moving average except none, all four sit above their 200-day lines.
The sector tape is blunt. Energy gains 3.0%, the best showing by far, while Technology drops 2.4%, the weakest sector in the group. Utilities rise 0.7%, Financials gain 0.7%, Staples add 0.6%, Healthcare rises 0.4%, and Real Estate rises 0.6%. On the other side, Industrials fall 0.9%, Materials lose 0.6%, Discretionary drops 1.0%, and Communication Services is basically flat at -0.0%.
The main catalyst is in the headlines. CNBC Markets says Trump proposes a 20% toll on cargo through the Strait of Hormuz and restarts an Iran blockade. CNBC World says Brent jumps more than 9% after the move. That lines up cleanly with the market action, crude spikes and energy stocks catch a bid while chip names and other high-beta stocks sink.
Volatility picks up too. The VIX climbs 14.2% to 17.16, and the VIX 9-day jumps 35.7% to 15.13. The SPY ETF falls 0.8% to 749.17, QQQ drops 1.9% to 711.74, and IWM slips 0.8% to 293.48. Options data shows a put-call ratio of 1.12 on SPY and 0.98 on QQQ, with heavy volume on both sides.
A few large-cap names show the pressure inside tech. NVIDIA falls 3.5% to 203.53, Intel drops 6.1% to 103.12, and Advanced Micro Devices loses 4.2% to 534.39 in the watchlist. Oracle also falls 6.5% to 131.54, while Chevron, Exxon Mobil, and ConocoPhillips all close higher, tracking the session’s energy bid.