Key facts
- The S&P 500 index fell, ending a nine-day winning streak.
- Oil prices advanced, and bond yields rose due to concerns over US-Iran hostilities.
- Technology shares led the market losses.
- An ETF tracking software firms dropped 3.5%.
The S&P 500 index experienced a decline, breaking a nine-day winning streak that had pushed it to all-time highs. This downturn was attributed to a renewed advance in oil prices and rising bond yields, fueled by concerns that escalating hostilities between the United States and Iran could impede prospects for a peace deal. Technology shares were particularly affected, with a prominent ETF focused on software firms experiencing a 3.5% drop. Dean Curnutt, founder at Macro Risk Advisors, commented on the market's reaction to these geopolitical tensions and ongoing interest in AI investments.