S&P 500 Drops 1% as Inflation Surge and Iran Tensions Spark Sell-Off
Hotter-than-expected May CPI data and escalating geopolitical risks drive midday losses across major U.S. equity benchmarks. The S&P 500 fell 1% to 7,312.58 at midday, led by declines in AI and semiconductor stocks amid rising inflation and Iran-related geopolitical tensio