XLC is trading 1.5% down now at $111.29 after renewed U.S.-Iran tensions pushed oil prices higher and weakened risk sentiment.

  • U.S. forces struck Iranian rocket launchers on August 30, followed by Iranian missile retaliation; Brent crude rose more than 3.8% toward $91.
  • Elevated inflation concerns and hawkish Federal Reserve messaging are pressuring growth-oriented communication-services holdings.
  • Sector ETFs were also broadly weaker on August 31.