Jul. 13 at 6:14 PM
$TDOC Wall Street indexes fell on Monday as a fresh escalation between the U.S. and Iran in the Gulf pushed oil prices higher and unnerved investors, while chip stocks extended their recent slide.
President Donald Trump said the U.S. was reinstating its blockade of Iranian shipping in the Gulf and would keep the Strait of Hormuz open after the two sides exchanged further missile and drone attacks over the weekend.
The escalation undercuts an interim U.S.-Iran agreement signed last month that aimed to reopen the strait and end the war after 60 days of negotiations.
Crude futures rose about 5% after investors weighed the renewed threat to the shipping route.
The tech-heavy Nasdaq led declines, with semiconductor stocks among the hardest hit...
