Wall Street Declines Amid Strait of Hormuz Tensions

Wall Street indexes fell, with the S&P 500 and Nasdaq relinquishing their previous day's records, amid escalating tensions surrounding the crisis in the Strait of Hormuz. Profit-taking accelerated the decline, despite strong corporate earnings.

The Dow Jones closed down 0.36% at 49,310 points, the S&P 500 decreased by 0.41% to 7,108 points, and the Nasdaq recorded a loss of 0.89% at 24,438 points.

Donald Trump stated he has “all the time in the world” to reach a deal with Iran, while Israel's Defense Minister, Israel Katz, claimed his country is ready to restart the war with Iran.

Oil prices continued their upward trend, surpassing $100 a barrel.

Texas Instruments surged by 18%, while Tesla fell by 3.6%.

Meta will lay off 8,000 employees, while Microsoft will offer a voluntary departure program.