# U.S. stocks eased back from record highs on Thursday as a lack of progress in the U.S.-Iran standoff rekindled risk-off flows.

*business · news · 2026-04-23 · Benzinga*

## Key points

- President Trump ordered the U.S. Navy to target vessels laying mines in the Strait of Hormuz.
- ServiceNow Inc. shares dropped 17.5% due to concerns about the Armis acquisition impacting 2026 margins.
- The iShares Expanded Tech-Software Sector ETF suffered its worst loss since April 2025, plunging 5.4%.
- Business surveys reported the highest U.S. input inflation in four years despite PMI growth.

**Companies:** ServiceNow Inc.
**Countries:** United States, Iran

[Read the full story on Benzinga](https://www.benzinga.com/markets/equities/26/04/52008743/nasdaq-100-slip-hormuz-oil-software-stocks-stock-market-thursday-wall-street-news-today)

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