Stocks Slide as Oil Surges 9% on Hormuz Tensions; Tech Leads Declines
· Market News · MarketsFN Team
Tech Rout Drags Markets Lower as Oil Spikes on Trump's Hormuz Blockade Threat
US stocks fell across the board Monday as former President Trump's proposal for a 20% toll on Hormuz cargo sent oil prices soaring nearly 10%, while semiconductor stocks led a tech sector retreat. The Nasdaq 100 bore the brunt with a 1.88% decline as risk appetite waned.
🇺🇸 US Session Overview
Equities retreated as geopolitical tensions overshadowed thin summer trading. The S&P 500 dropped 0.79% to 7,515.34, with energy stocks the sole bright spot amid the oil surge. The Dow Jones showed relative resilience, down just 0.26%, as defensive sectors limited losses.
Tech suffered its worst session in three weeks, with the Nasdaq 100's 1.88% slide reflecting broad semiconductor weakness after reports of SK Hynix production issues. Small caps mirrored the broader market, with the Russell 2000 falling 0.83% as higher oil prices raised concerns about consumer spending.
📅 Economic Calendar Highlights
No major economic data was released Monday, leaving markets to focus on geopolitical developments and prepare for Tuesday's inflation reports. Analysts expect the June CPI reading to show moderating price pressures, though energy volatility could complicate the picture following today's oil spike.
📋 Earnings Spotlight
Earnings season remains light with only three companies reporting: LogProstyle Inc (LGPS) pre-market, followed by Grupo Aeromexico (AERO) and FB Financial (FBK) after the close. None are considered market-moving names, though Aeromexico's results may provide insight into Latin American travel demand.
💱 FX & Commodities
The dollar gained broadly as haven flows emerged, with the DXY rising 0.4%. USD/CHF led major FX pairs with a 1.02% surge, while EUR/USD fell 0.44% to 1.1383. Safe-haven gold defied expectations by plunging 2.31% to $4,009.20 as investors favored cash positions.
Oil markets dominated commodity action, with WTI crude soaring 9.42% to $78.14 and Brent up 9.71% after Trump's Hormuz blockade threat raised supply concerns. Cryptocurrencies bucked the risk-off trend, with Bitcoin gaining 0.69% and Ethereum rising 1.51%.
Asian markets open Tuesday facing crosscurrents of surging energy prices and tech sector weakness, with all eyes on upcoming US inflation data. Traders will watch whether oil holds its gains and if semiconductor stocks can stabilize after today's selloff.
🇺🇸 US Indices — Session Close
| Index | Price | Change | Change % |
|---|---|---|---|
| S&P 500 | 7,515.34 | ▼ -60.05 | ▼ -0.79% |
| Nasdaq 100 | 29,264.10 | ▼ -561.01 | ▼ -1.88% |
| Dow Jones | 52,498.64 | ▼ -138.37 | ▼ -0.26% |
| Russell 2000 | 2,953.17 | ▼ -24.64 | ▼ -0.83% |
💱 FX Majors
| Pair | Rate | Change % |
|---|---|---|
| EUR/USD | 1.1383 | ▼ -0.44% |
| GBP/USD | 1.335 | ▼ -0.49% |
| USD/JPY | 162.46 | ▲ +0.06% |
| AUD/USD | 0.6918 | ▼ -0.38% |
| USD/CHF | 0.8148 | ▲ +1.02% |
🛢️ Commodities & Crypto
| Asset | Price (USD) | Change % |
|---|---|---|
| Gold (XAU/USD) | 4,009.20 | ▼ -2.31% |
| Silver (XAG/USD) | 57.99 | ▼ -3.03% |
| Crude Oil (WTI) | 78.14 | ▲ +9.42% |
| Brent Oil | 83.39 | ▲ +9.71% |
| Natural Gas | 2.88 | ▼ -2.14% |
| Bitcoin | 64,198.72 | ▲ +0.69% |
| Ethereum | 1,833.09 | ▲ +1.51% |
📋 Today's Earnings
| Ticker | Company | Timing | Market Cap |
|---|---|---|---|
| LGPS | LogProstyle Inc | BMO | 24360000.0 |
| AERO | Grupo Aeromexico SAB de CV ADR | AMC | 2230000000.0 |
| FBK | FB Financial Corp | AMC | 2910000000.0 |
📅 Economic Calendar
All times in UTC — Actual highlighted where available
No significant economic releases today.
Report published: July 13, 2026 — 22:20 CET
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