Divided Fed, Surging Oil, and a Chip Wipeout Send the Dow to Its Worst Day Since April
Stocks suffered their worst day since April as a divided Fed held rates steady, long yields jumped, oil spiked 6%+ on Iran tensions, and a deepening chip selloff dragged the Nasdaq lower. Dow -2.19%, S&P 500 -1.52%, VIX +12% ahead of Meta, Microsoft, and Qualcomm earnings after the bell.