Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.8%), Nasdaq Composite (-1.1%), and DJIA (-0.7%) have given back yesterday's modest gains as a risk-off disposition takes over today amid fading hopes for a ceasefire between the U.S. and Iran.

The two nations have until 8:00 p.m. ET tonight to strike an agreement, which will likely need to include the reopening of the Strait of Hormuz. If a deal is not met, President Trump has threatened the destruction of Iran's infrastructure.

Tehran Times posted on X, "Iran has closed all diplomatic and indirect channels of communication with the United States. Any and all message exchanges have also been suspended."

Crude oil is currently up $3.49 (+3.1%) to $115.91 per barrel.

As such, the energy sector (+1.5%) holds a solid early gain, while weakness is broad elsewhere.

The consumer discretionary sector (-1.6%) holds the widest loss with nearly all of its components trading lower and Tesla (TSLA 342.78, -10.04, -2.85%) seeing an extension of yesterday's weakness.

The top-weighted information technology sector (-1.3%) is also an early laggard, with Apple (AAPL 249.62, -9.24, -3.57%) facing a considerable retreat as well.