Stocks finished lower across the board as the chip sector extends its volatile streak with a sharp selloff that began overseas. The S&P 500 (SPY) logged its first losing session in three, while the tech-heavy Nasdaq (QQQ) shed 302 points. The Dow (DIA) also pulled back from its early-morning record high to finish with a triple-digit loss. Investors are keeping an eye on rising oil prices, and looking ahead to the Federal Reserve's June meeting minutes, due out tomorrow at 2 p.m. ET.
Oil Rises After Iran Attacks
Oil prices rebounded after Iran attacked ships in the Strait of Hormuz. Plus, a U.S. official told CNBC (CMCSA) that the Treasury Department is revoking the license that permits Iranian oil sales. August-dated West Texas Intermediate (WTI) rose 2.8% to $70.44 a barrel.
Gold prices moved quietly lower after last session's two-week highs. August-dated gold futures dropped 1% to settle at $4,125.80 per ounce.
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