US stocks decline alongside oil prices
U.S. stocks declined, with the S&P 500 dropping by 0.26% and the Nasdaq by 0.97%, as oil prices fell to around $88 per barrel and the iShares Semiconductor ETF lost more than 3%. Shares of chip technology companies and the energy sector also declined following escalated tensions in the Middle East and statements suggesting a possible agreement between the United States and Iran regarding the Strait of Hormuz, which impacted oil prices and sector stocks. The market also received support from housing sales data and movements in the materials and consumer goods sectors, amid continued investor interest in the artificial intelligence sector.
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