US-Iran Escalation Sends Oil Prices Soaring and Wall Street Stocks Tumbling

Wall Street stocks suffered losses on Tuesday as tensions between the US and Iran escalated, leading to a sharp increase in oil prices.

The new round of strikes by American forces against Iranian military sites pushed Brent crude towards the mid-$90s per barrel during trading hours, while U.S. crude traded in the high $80s.

This surge in energy costs contributed to a decline in equities, with all three major indexes, Dow Jones Industrial Average, S&P 500, and Nasdaq Composite, registering losses for the session.

The yield on the 10-year Treasury note also rose above 4.75%, its highest level since January 2025, as investors priced in the oil shock and a Federal Reserve that sounds less inclined to cut interest rates.

Antropic's agreement to secure capacity at a data center in Texas through a $35 billion computing deal with Lambda is one of two mega-deals that cut through the gloom on Wall Street, despite the market turmoil.