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S&P 500, Nasdaq, Dow Drop 1.6%–2% on Wednesday Amid Iran Tensions and Persistent Inflation

GateNews
IndicesStocksCommodities
US5000.57%
US500200.57%
U.S. stock indices fell on Wednesday as escalating US-Iran geopolitical tensions and persistent inflation pressures weighed on equities. The S&P 500 declined 1.6%, Nasdaq 100 dropped 2%, and Dow Jones eased 1.9%. U.S. consumer inflation accelerated to 4.2% year-over-year in May, marking the fastest pace in three years and the third consecutive month of increase, according to the Bureau of Labor Statistics. Rising energy costs tied to Middle East developments drove the CPI surge. Oil prices climbed 3% to above $91 per barrel as Trump signaled increased pressure on Iran over negotiations. Semiconductor stocks led declines, with the VanEck Semiconductor ETF sinking 4%.
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