Higher Oil & Rates (Finally) Hit Stocks As Hawks Circle, Hormuz Hope Fades, Hyperscalers Hiccup

Tl;dr: Higher oil prices (MidEast escalation, brief 'deal' rumor relief) and higher rates (circular with oil, hawkish FedSpeak, better macro again, and a weak 'buyback') dragged stocks down (until 'phased deal' with Iran rumors snapped us to unch briefly, but AI anxiety is growing (force majeure pushed ORCL CDS to record high) but stocks ended unch. The dollar extended gains pulling gold lower as crypto chopped sideways.

Energy