SPY is trading at $760.78 (-0.82%) as renewed U.S.-Iran hostilities near the Strait of Hormuz push crude toward $90-$92 and revive inflation concerns.
- Higher energy prices lifted Treasury yields, with the 10-year yield reaching 4.7880%, pressuring growth-oriented technology shares.
- A weaker-than-expected JOLTS reading and softer manufacturing data provided limited relief as investors remained concerned about valuations and potential Fed tightening.