# The S&P 500 and Nasdaq retreated from their record highs following an explosion on a South Korean ship.

*business · news · 2026-05-04 · Devdiscourse*

## Key points

- An explosion on a South Korean ship in the Strait of Hormuz triggered market concerns.
- Iran reportedly forced a U.S. warship to turn back, increasing geopolitical tensions.
- GameStop's stock fell after its acquisition proposal for eBay was revealed.
- Amazon launched a logistics offering impacting shares of FedEx and UPS.

**Companies:** Amazon, Berkshire Hathaway, eBay, GameStop, FedEx, UPS, Norwegian
**Countries:** South Korea, Iran, United States

[Read the full story on Devdiscourse](https://www.devdiscourse.com/article/headlines/3896709-wall-street-shakes-as-middle-east-tensions-reignite)

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