US Markets
Stocks slide as oil, yields, and volatility move higher
A mixed tape ends red, with energy up, health care down, and the yield curve still leaning higher.
Wall Street finishes lower, with the S&P 500 down 0.6% to 7673.52, the Nasdaq Comp. down 0.3% to 26421.4121, the Dow down 1.2% to 52786.0703, and the Russell 2000 down 0.5% to 2960.2036. The S&P spends the day in a tight, grinding range before fading late from an intraday high of 7705.24 to a close near 7673.
Sector action is just as split. Energy rises 1.1% and Utilities gain 0.9%, while Health Care sinks 2.5%, Financials lose 1.4%, and Materials fall 1.0%. Tech manages a 0.3% gain, but that is not enough to offset the broader weakness across the tape.
The news flow points to more pressure on risk. CNBC reports U.S. military action in the Strait of Hormuz and Reuters says Wall Street slides while oil surges amid Middle East and inflation worries. That lines up with the day’s jump in crude and the higher close in Treasury yields.
Volatility picks up too. The VIX rises 2.8% to 15.72, while the VIX 9-day falls 12.1% to 14.81. SPY drops 0.6% to 765.96 and QQQ slips 0.1% to 718.36, mirroring a cautious session rather than a broad selloff.