U.S. Stock Markets Fall on Iran Strike, Semiconductor Rout; Nasdaq Drops 1.16%

According to Herald Economy, U.S. stock markets declined on July 7 amid escalating Middle East tensions and semiconductor weakness, with Nasdaq falling 1.16% to 25,818.69. The S&P 500 dropped 0.45% to 7,503.85, while the Dow Jones retreated 0.25% to 52,925.15.

Geopolitical risk from renewed U.S. airstrikes on Iran and attacks on three vessels in the Strait of Hormuz drove crude oil higher, with WTI August futures rising 2.76% to $70.44 per barrel and Brent crude up 3.01% to $74.16. Chip stocks tumbled broadly: Intel fell 9.66% and Micron declined 4.71%, while the Philadelphia Semiconductor Index dropped 4.65%. The 10-year U.S. Treasury yield rose 7 basis points to 4.54%.