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Market Jitters: Iran Standoff Halts Stock Rally, Oil Surges Past $100

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Market Jitters: Iran Standoff Halts Stock Rally, Oil Surges Past $100

A sudden pause in US stock gains has occurred amid stalled Middle East peace negotiations, injecting volatility into financial markets. The S&P 500 futures dropped 0.4%, reversing momentum after recently hitting a record high and posting over 9% growth for April—fueled by strong corporate earnings and exceptional performance in semiconductor stocks. Geopolitical uncertainty now overshadows those fundamentals. Brent crude oil surged 0.7% to approximately $102.60 per barrel, driven by persistent disruption at the Strait of Hormuz, where both the US and Iran maintain a standoff without resolution. This strategic waterway’s impasse is tightening global energy supply expectations and pushing prices higher.

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