US Stocks Plummet as Tensions with Iran Escalate

US stocks took a hit on Tuesday as tensions between the US and Iran escalated. The Dow Jones Industrial Average fell 0.79% to 52,766.88, while the Nasdaq Composite Index dropped 1.03% to 26,099.77. The S&P 500 Index declined 0.71% to 7,631.47.

The tech sector led losses, with Micron Technology falling 2.64%. Nvidia and Google also fell, down 1.51% and 1.28%, respectively. On the other hand, Apple bucked the trend, rising 2.61% to $325.13. Apple's new CEO, John Ternus, praised the company's product pipeline in a recent address to employees.

The Philadelphia Semiconductor Index fell 2.14% to 11,288.61 points, with 28 of its 30 constituents declining. Lam Research and Applied Materials led the declines, down 3.74% and 3.61%, respectively.