US-Iran Tensions Send Markets Reeling Amid Soaring Oil Prices

The US-Iran stalemate has taken its toll on global markets, with US stock indices ending lower on Tuesday. The S&P 500 fell 0.7%, while the Nasdaq 100 dropped 1.3% and the Dow Jones Industrial Average declined by 0.8%. West Texas Intermediate crude topped $90 a barrel.

The escalation of tensions in the Middle East has pushed oil prices higher, raising bond yields and adding to investor concerns that the Federal Reserve might hike interest rates in its September meeting. The yield on the benchmark 10-year US Treasury note climbed to its highest mark since early 2025.

Key stocks in focus included Dell Technologies, which hiked its annual sales forecast by $25 billion; Palo Alto Networks, which beat quarterly earnings and revenue expectations; Take-Two Interactive Software, whose Grand Theft Auto VI dominated streaming leaderboards; Apple, whose newly appointed CEO struck a bullish tone on the company's product roadmap; and Fervo Energy, which announced a new power deal with Google.