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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.
President Trump ordered the U.S. Navy to target vessels laying mines in the Strait of Hormuz.
KEY POINTS
- 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
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