The stock market today fell victim to a brutal unwind in the optical and AI-hardware complex. The Nasdaq 100 slid 1.7% while long-end Treasury yields hovered near multi-decade highs and oil held above $91.
West Texas Intermediate crude rose 1.4% to $85.67 a barrel, extending a monthly gain of 3.9%, as President Donald Trump wrote on Truth Social that there are no “scheduled” talks with Iran. “The Naval Blockade remains in full force and effect,” he argued, while Iranian officials and state media flatly rejected this narrative.
