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It’s not Christmas in July, but investors are seeing red. Stocks struggled to start the week between renewed hostilities in the on-again, off-again war in Iran and a lack of support from artificial intelligence and tech stocks. The Dow Jones Industrial Average ended down 0.3% while the S&P 500 lost 0.8% and the Nasdaq Composite fell 1.6%.
<body><p>STORY: U.S. stocks ended lower on Monday, with the Dow losing about a quarter of a percent, the S&P 500 falling roughly eight-tenths of a percent and the Nasdaq dropping more than one-and-a-half percent.</p><p>:: Archive</p><p>Oil prices jumped after President Donald Trump announced he would reinstate a blockade on Iranian ports in the latest escalation of U.S.-Iran hostilities.</p><p>Alexander Morris is CEO and chief investment officer of F/m Investments.</p><p>"Anyone watching the market today is really seeing what happens when there is confusion in the market, of information. We have a weekend where we think that Iran is sorting itself out, and then the blockade is back on. The ceasefire is teetering, but we're shooting at each other. Confusion is back. The dollar is down. The [yield] curve is up. It seems like the market is starting to price back in the fact that any of the good news bits that we had previously thought might be the start of the end are actually maybe just the end of the beginning."</p><p>Chip stocks, which have tended to lead the market through both rally and selloff, slid on Monday, with SanDisk, Marvell Technology and Intel dropping between about 6% and 12.5%.</p><p>And after a stellar Nasdaq debut on Friday, U.S.-listed shares of South Korean chipmaker SK Hynix sank more than 9%.</p><p>On the flip side, energy stocks led the gainers, as crude prices surged more than 9%. Shares of Chevron added more than 3% while Exxon Mobil climbed 4%.</p><p>Higher oil costs fueled worries that strained supply and upward price pressures could broaden into long-term, systemic inflation.</p><p>To that end, the Labor Department is expected to release its consumer and producer price indexes this week, which will give markets and the Federal Reserve a glimpse at the extent to which the on-again-off-again U.S.-Iran war affected price growth in June.</p></body>
AST SpaceMobile, Inc. (ASTS) concluded the recent trading session at $67.58, signifying a -7.83% move from its prior day's close.
MakeMyTrip (MMYT) closed at $57.08 in the latest trading session, marking a -2.63% move from the prior day.
In the most recent trading session, Clearway Energy (CWEN) closed at $33.19, indicating a -1.43% shift from the previous trading day.
The latest trading day saw SolarEdge Technologies (SEDG) settling at $52.13, representing a -5.53% change from its previous close.
Medpace (MEDP) closed at $530.19 in the latest trading session, marking a -1.49% move from the prior day.
Itron (ITRI) closed the most recent trading day at $83.39, moving 2.01% from the previous trading session.
KLA (KLAC) closed the most recent trading day at $222.25, moving 4% from the previous trading session.
In the latest trading session, Trip.com (TCOM) closed at $42.36, marking a -1.03% move from the previous day.
In the closing of the recent trading day, Roku (ROKU) stood at $142.34, denoting a +1.17% move from the preceding trading day.
MasterCard (MA) concluded the recent trading session at $537.7, signifying a +2.08% move from its prior day's close.
In the most recent trading session, Fortinet (FTNT) closed at $160.62, indicating a +1.97% shift from the previous trading day.
Comfort Systems (FIX) closed the most recent trading day at $1, moving 1.37% from the previous trading session.
In the closing of the recent trading day, Sterling Infrastructure (STRL) stood at $660.04, denoting a -3.26% move from the preceding trading day.
In the latest trading session, Lam Research (LRCX) closed at $329.92, marking a -5.83% move from the previous day.
Modine (MOD) closed at $234.28 in the latest trading session, marking a -4.73% move from the prior day.
Emerson Electric (EMR) reached $135.38 at the closing of the latest trading day, reflecting a -2.52% change compared to its last close.
In the closing of the recent trading day, DocuSign (DOCU) stood at $49.87, denoting a +1.4% move from the preceding trading day.
Dow Jones Futures: The Nasdaq composite sold off Monday on Trump's Strait of Hormuz blockade. Micron, Sandisk, SK Hynix and SpaceX dived.
Renewed tensions in the Strait of Hormuz are rattling markets again.
Wall Street had a rough start to the week thanks to chip stocks. All three major indexes ended Monday's session in the red. The Nasdaq was 1.5% lower. The S&P 500 was down 0.8% while the Dow fell 138 points or 0.
Major digital assets were broadly weaker Monday, with Bitcoin (BTC-USD) down but holding above the $
(Updates with index/price moves and company/geopolitical news from the first paragraph.) US equit
(Updates with index/price moves and company/geopolitical news from the first paragraph.) US equit
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