S&P 500 down 1.5% amid rising US-Iran tensions
The US stock market declined as tensions between the US and Iran escalated. The S&P 500 fell 1.5% while the Nasdaq dropped 1.8%.
The decline came despite the US May CPI meeting expectations at 4.2%. The US 10-year yield rose 1.4 bps to 4.54% after the Treasury auctioned off $39 billion of 10-year notes.
Gold prices broke down, falling $172 to $7280, while WTI crude oil rose $2.25 to $90.46. The EUR led currency gains, while the AUD lagged.
The market sell-off was broad, with tech stocks, including Nvidia and Tesla, and some real economy shares, such as Caterpillar, declining sharply.