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US stocks fall amid tech concerns and Strait of Hormuz tensions
The Standard & Poor's 500 index and other American indices declined due to a drop in shares of major technology companies. Fears have emerged over the continued closure of the Strait of Hormuz amidst escalating tensions between the United States and Iran. This has led to a decrease in oil prices, with West Texas Intermediate futures closing at $83.20 per barrel, while Brent crude rose by 1.4% to $88.91. An Iranian official stated that the strait would not be reopened before the conditions are met, while a Pakistani official hinted at the possibility of reaching a peace agreement. Meanwhile, markets are awaiting upcoming inflation data, which could influence the Federal Reserve's decisions regarding interest rate hikes.
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