S&P 500 Slides as Iran Deal Collapse Rattles Markets

The broader market slump hit travel and transportation sectors particularly hard. United Airlines and Delta Air Lines saw shares dip over 1% as crude oil prices spiked, reflecting investor anxiety over potential fuel cost surges. Tech giants including Microsoft and Alphabet also faced downward pressure throughout the session, struggling to maintain their footing in an increasingly uncertain climate.

Broadcom provided the day’s lone major exception to the negative trend. The chipmaker rallied 4.8% following the confirmation of a $30 billion supply agreement with Apple. Despite the broader sell-off, this partnership offered a rare point of stability for tech investors watching the S&P 500 attempt to navigate the fallout from renewed Middle East tensions.