Inflation Fears Weigh on Wall Street as Stocks Dip Amid US-Iran Conflict

Wall Street stocks stumbled on Thursday, with the Dow Jones Industrial Average and Nasdaq composite declining by 0.9% and 0.1%, respectively.

The S&P 500 fell 13.59 points to 7,709.96, pulling away from its record set on Tuesday but still on track for solid weekly gains.

Concerns over inflation and the ongoing U.S.-Iran conflict weighed on markets, with oil prices rising 3.8% to $82.49 per barrel due to uncertainty over global oil supplies.

Certain companies reported earnings ahead of expectations, such as Warner Bros. Discovery, which rose 1.7%, but others, like Honeywell Aerospace, fell short, plummeting 23.2%.

More than 911 million SpaceX shares became eligible for sale on Thursday after a lockup period expired, contributing to the company's share price jump to $225 in June before dropping below its initial offering price of $135.