What Happened Today: Stocks Slide as US Strikes on Iran Rattle Markets
ES and NQ at the close
Our bot's day
SPY and QQQ
The story
US stocks slipped Tuesday after the US resumed military strikes on Iran, reviving fears that a fragile truce is coming apart. The Nasdaq 100 bore the brunt of the selling, falling 1.55 percent to 29,477.75 as higher oil prices and firmer rate-hike expectations weighed on the most rate-sensitive names. The broader S&P 500 was far more resilient, easing just 0.48 percent to 7,555.25, a sign that energy and defensive corners of the market helped cushion the blow. It was a classic risk-off session where geopolitics, not earnings, set the tone.The MAG7 and the megacaps
The biggest technology names carried much of Tuesday's weight, which is why the Nasdaq 100 fell more than three times as much as the S&P 500 in percentage terms. When oil climbs and traders start pricing in the chance of higher interest rates, the highflying growth stocks that dominate the tech index tend to feel it first. There were no company-specific catalysts driving the group today, just the broad move away from risk as the Iran headlines crossed.
After the bell
US resumes strikes on Iran
US Central Command confirmed fresh military strikes against Iran, the single biggest driver of Tuesday's session. The news revived fears that a fragile truce was coming apart and pushed investors toward safer assets and away from stocks.
Oil jumps on supply fears
Crude prices climbed as the renewed conflict raised concerns about supply disruptions in the region. Higher energy costs feed into inflation worries, which is part of why rate-sensitive tech names were hit hardest.
Dollar hits a weekly high
The US dollar strengthened to its best level of the week as investors sought safety and repriced the odds of higher interest rates. A stronger dollar and higher rate expectations are typically a headwind for growth stocks and for gold.
Gold eases despite the tension
In an unusual twist, gold slipped even as geopolitical risk rose. Traders pointed to the firmer dollar and rising rate-hike bets, which can pull money away from non-yielding metals even during periods of uncertainty.
Crypto
Bitcoin traded right alongside stocks in the risk-off mood, falling 1.51 percent to 63,031.47 after touching a high of 63,669.85 and a low of 62,665.21. That is almost the same percentage decline as the Nasdaq 100, a reminder that on days driven by geopolitics, bitcoin often moves in step with tech rather than acting as a safe haven. Crypto traders were watching the same oil and dollar headlines as everyone else.
Into the night
The tone was set before the US open. Oil prices climbed and the dollar pushed to a weekly high as news broke that US Central Command had launched fresh strikes against Iran, fueling worries that the recent truce was unraveling. Gold eased even as tensions rose, an unusual reaction that traders tied to the stronger dollar and firmer rate expectations rather than any easing of the conflict.What is coming next
With geopolitics in the driver's seat, the next few sessions will likely track the Iran headlines more than any economic report. Watch whether oil prices keep climbing and whether the dollar holds its weekly high, since both can keep pressure on tech. If tensions cool, the sharp move lower in the Nasdaq 100 could reverse just as quickly as it came.
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