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The S&P 500 slipped around 0.2%, while the tech-heavy Nasdaq Composite fell about 0.3%.
The Nasdaq's 13-day winning streak ended amid renewed Middle East tensions.
KEY POINTS
- Iran signaled threat to close Strait of Hormuz during the ceasefire, escalating geopolitical risks.
- The US seized an Iranian-flagged cargo ship and warned of escalation if Tehran resists US terms.
- West Texas Intermediate crude surged nearly 6.9% on supply concerns linked to Hormuz threats.
- Bank of America cautioned that markets may be underpricing war-related de-escalation risks.
COMPANIES
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