Wall Street Slips as Hormuz Tensions Drive Oil, Yields Higher

U.S. equities pulled back about 0.5% from record highs as a sharp surge in crude prices reignited inflation worries. Mega‑caps like Meta and Microsoft weighed on indices, while semiconductors outperformed, with the Philadelphia Semiconductor Index entering a new bull market on stronger AI‑capex guidance from SanDisk and Micron.

Brent climbed toward $91, pushing U.S. Treasury yields higher, with the 30‑year hitting a 19‑year high at 5.31% amid escalating U.S.–Iran tensions. In India, Nifty fell for a fifth session to 24,287, with weak near‑term momentum. Support lies at 24,200, while 24,430–24,600 act as resistance.