Stocks tumbled on Thursday as the S&P 500 lost 0.5%, the Dow fell 0.3%, and the Nasdaq declined 1.3%, with chip stocks under severe pressure for a second day and escalating US-Iran tensions weighing on sentiment. Semiconductor stocks continued to slide after Taiwan Semiconductor Manufacturing Company's robust earnings failed to impress markets scrutinizing high valuations. The 10-year Treasury yield rose to 4.60%, approaching a near two-month high, as higher oil prices reignited inflation concerns from the US-Iran conflict.
→ Netflix Q2 earnings after the close—the streaming firm's stock has fallen after its last four reports despite strong week for overall earnings.
→ Iran-Israel tensions and oil price moves for inflation implications; Fed rate hike probability shifting amid mixed economic data.
→ Semiconductor sector volatility continuing—watch whether chip strength holds or weakness broadens into mega-cap tech.