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Wall Street dips after US Iran strikes
U.S. stocks, such as the S&P 500 and Nasdaq, declined by 0.5% after firing exchanges between the United States and Iran for the first time in a month, when the U.S. bombed Iranian missile launch sites on Lark Island. The escalation led to a more than 3% increase in oil prices, with West Texas Intermediate surpassing $86 per barrel. Long-term Treasury yields also rose, adding to market weakness. Despite this, Wall Street indices are on track to achieve monthly gains, led by the technology sector, with the Dow Jones rising over 1% since the beginning of August. The S&P 500 and Nasdaq increased by approximately 2% and 3%, respectively, with some reaching record levels.
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