Overview
- Stocks turned lower Thursday as Brent crude jumped near $102 a barrel and the S&P 500, Nasdaq, and Dow all fell in a broad selloff tied to oil supply fears.
- President Trump urged Iran to “get serious” about a deal and warned of continued strikes if talks fail, raising the geopolitical risk that traders are pricing into energy.
- Iran tightened control over the Strait of Hormuz, the narrow channel that carries about one‑fifth of global oil, which has investors worried about new bottlenecks for crude shipments.
- The 10‑year Treasury yield rose to about 4.37% as higher oil fed inflation concerns, a shift that makes mortgages and business loans more expensive and dims hopes for near‑term Fed cuts.
- Energy shares outperformed while precious metals fell and bitcoin swung above $70,000, with some market reports also flagging an unconfirmed idea inside Iran to charge ship transit tolls.