Middle East Tensions Push Wall Street Lower

Wall Street experienced a decline on Tuesday due to growing concerns over Middle East tensions. The uncertainty led to a drop in shares of prominent companies, including Amazon and Alphabet, which are typically considered safe havens.

The Strait of Hormuz remained shut, as indicated by Iran's Supreme National Security Council, until the US adjusts its stance. This move triggered oil price increases, causing the S&P 500 energy sector index to rise by 1.1%.

Despite tech stocks experiencing losses, alternative asset managers saw gains, with Apollo Global and Blackstone reporting significant hikes. This contrast highlights the challenges faced by the tech sector compared to the broader market's resilience.