US Markets Retreat as Hormuz Tensions Push Crude Higher

U.S. markets pulled back as renewed tensions in the Strait of Hormuz pushed crude prices higher. American strikes on Iranian military sites reignited concerns over energy supply disruptions, lifting oil by nearly 2% in after‑hours trade and adding fresh uncertainty to inflation expectations.

Equities weakened, with the S&P 500 down 0.38% and the Dow falling 313 points after again failing to hold the 50,000 mark. Technology stocks led the decline. Broadcom slipped 4% after reports that its $18 billion AI chip deal with OpenAI may face financing delays unless Microsoft commits to large-scale purchases. Chipmakers Intel and AMD also fell roughly 3% as investors reassessed stretched valuations.

In India, the rupee strengthened for a second day on regional currency gains and steady dollar inflows. Nifty ended almost flat at 24,326, holding its broader uptrend despite intraday profit‑taking. Support remains near 24,000, with resistance around 24,600. Indian markets are expected to open lower on weak global cues.

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