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U.S. Stock Futures Hold Steady After Wall Street Slips on Geopolitical Tensions
U.S. stock index futures remained stable in Wednesday evening trading, following a session where Wall Street benchmarks ended mostly lower. The Dow Jones Industrial Average fell 1.1% and the S&P 500 declined 0.3%, while the technology-heavy NASDAQ Composite bucked the trend with a 0.2% gain.
Investor sentiment was impacted by reports of escalating geopolitical tensions between the United States and Iran. According to the reports, the U.S. president declared an interim peace deal was "over," which was followed by information about fresh U.S. strikes on Iranian targets. Iranian officials reportedly warned of potential retaliation, increasing uncertainty in the region.
The renewed hostilities led to a sharp increase in oil prices during Wednesday's trading as markets assessed risks to shipping through the Strait of Hormuz. The rise in energy costs has revived concerns about inflationary pressures and their potential effect on the Federal Reserve's monetary policy.
AdWhile the broader market faced headwinds, the technology sector saw positive movement. The Nasdaq's modest gain was supported by strength in semiconductor stocks. Broadcom shares surged following the announcement of a major chip-supply agreement with Apple, and Nvidia also posted advances.