Stock market today: Dow, S&P 500, Nasdaq drop after rally as Iran war drags on

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0;switch(e){case"expanded_panel":o='{promoMarkup}{notifMarkup}',a=n._store.getNotifications(),r=n._generatePanelMarkup(o,a),i.innerHTML=r;break;case"error_panel":r=(o='{errorMsg}').replace("{errorMsg}",n._config.panel.errorMsg),i.innerHTML=r}t&&t()}else t&&t(new Error("No panel parent"))}},{key:"createPanelParentNode",value:function(e){e&&(e.innerHTML='',this._panelNode=document.getElementById(P))}},{key:"updateBadgeNode",value:function(e){if(e){var t=this._store.getNotifications().newCount,n=this._config.badge.maxCount;if(t){var o=t>n?n+"+":t;e.innerHTML=o}else e.innerHTML=""}}},{key:"addStyles",value:function(e){if(e&&"undefined"!=typeof window){var t=document.getElementById(this._config.panel.styleTagId);t||((t=document.createElement("style")).type="text/css",t.id=this._config.panel.styleTagId,t.innerText=e,document.head.appendChild(t))}}}]),e}(),j=function(){function e(t,n,o){E(this,e);var i=this;i._store=n,i._view=o,i._config=t;var 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and the tech-heavy Nasdaq Composite (^IXIC) fell 1%.Stocks fell to session lows after The Wall Street journal reported the US is expected to send 3,000 of the Army’s elite 82nd Airborne Division to the Middle East.Oil prices fell sharply on the news of hostilities potentially winding down, but have since rebounded as fighting between Iran and the US-Israeli alliance continued. West Texas Intermediate (CL=F) crude rose 4%, back above $92 a barrel, while Brent (BZ=F) jumped back above $104.Markets soared Monday after President Trump said the US had engaged in “very good and productive” discussions with Iran aimed at resolving hostilities. The positive sentiment faded somewhat after Iranian state media pushed back on the claim, saying that no direct negotiations had taken place.The developments followed a tense weekend, during which Trump warned of potential strikes on Iranian energy infrastructure if the Strait of Hormuz was not opened. Iran responded with threats targeting US assets, raising concerns about further escalation.Looking forward, investors turn their attention to US manufacturing data due Tuesday morning, as well as the end of earnings season, with GameStop (GME) due to report after the close.LIVE 16 updatesjust nowInes FerréStocks sink to session lows after report US sending elite brigade to Middle EastStocks sank to session lows after a Wall Street Journal report said the US is expected to deploy 3,000 troops from the Army’s elite 82nd Airborne Brigade within hours.The written order to deploy units is expected within hours, according to the report. No decision has been made on whether to deploy boots on the ground, officials said.Oil, which had opened more than 4% higher on Tuesday morning, remained elevated in afternoon trading.Today at 4:27 PM UTCInes FerréCircle stock tanks 19%, most on record in sharp reversal from recent rallyCircle (CRCL) tanked as much as 19% on Tuesday, the most on record, and a sharp reversal from its recent rally.The catalyst for the sharp decline was unclear, though overnight reports pointed to developments surrounding the Clarity Act, a bill that may restrict yield offerings on stablecoins.According to an internal stakeholder cited by Crypto America, the proposal would prohibit platforms from offering yield “directly or indirectly” for holding a stablecoin or in a manner that resembles a bank deposit.Bank reps were set to review the text on Tuesday, according to the report.The Clarity Act, which aims to lay out rules for which federal agency oversees what portions of the crypto markets, has struggled to pass through Congress. A key point of contention has been surrounding whether crypto platforms should be able to pay customers "yield," or interest on their stablecoin balances, which threatens banks.Circle has been on a tear in recent weeks, rallying from around $60 in late February to $130 just last week, or roughly 110%.Expectations that the Federal Reserve will hold rates steady have helped buoy the stock. Circle makes much of its revenue from interest on reserves backing its stablecoin USDC (USDC-USD).Other crypto stocks also sank on Tuesday, with shares of trading platform Coinbase (COIN) down 8%.Today at 3:38 PM UTCInes FerréBitcoin hovers near $70,000 as Bernstein calls a bottomBitcoin's (BTC-USD) bottom may be in, almost half a year after tumbling from its all-time highs, according to Bernstein analysts."We believe Bitcoin has found its trough and is now heading higher," Bernstein analyst Gautam Chhugani wrote on Monday. The firm reaffirmed its $150,000 price target for the end of 2026.The token, which has outperformed gold during the Middle East conflict, was trading near $70,000 on Tuesday. Bernstein's Chhugani points out that bitcoin ETF outflows seen at the start of the year have reversed, with ETFs today holding roughly 6.1% of the total supply.The analyst also noted that the token's "market structure" has matured compared to earlier cycles, when the token experienced boom-and-bust retail flows.Additionally, digital asset Treasury giant Strategy (MSTR) has remained resilient and acted as a strong buyer. Strategy currently holds roughly 3.6% of all supply,"Strategy acts as the ‘Bitcoin bank of last resort’ and Bitcoin ETFs are attracting more resilient (and less speculative) source of capital," Chhugani wrote.Today at 3:25 PM UTCJake ConleyBP chief economist says War in Iran is unlike any oil shock in the pastThe war in Iran is “incomparable” with any past oil shock in both its scale and its wide-ranging impact on the energy market, BP (BP) chief economist Gareth Ramsay said in comments at an industry event on Tuesday."I don't think you really compare this with any disruption in the past … there's been no disruption of this scale," Ramsay said at CERAWeek by S&P Global, a major energy conference. The disruption of the Strait of Hormuz is "every analyst’s study piece or worst nightmare that we thought could never happen."Since the war began, futures on international oil benchmark Brent crude (BZ=F) have gained roughly 40%, while those on US benchmark West Texas Intermediate (WTI) crude (CL=F) have picked up more than 30%.As the war has entered its fourth week, the Strait of Hormuz remains effectively closed, choking off roughly 15 million to 16 million barrels per day of oil from the market, and attacks on key energy infrastructure have disrupted refineries throughout the Gulf.It’s unlikely that the market will be able to respond quickly enough with new supply, given the weeks- or months-long timelines to launch new production, Ramsay said. "The country with the capacity to bring new production online quickly is on the wrong side of Hormuz," he added, referring to Saudi Arabia.While the shock of the conflict is immediately evident in the commodities markets, disrupting the flow of everything from natural gas to fertilizer and helium, the war is also likely to curtail global growth through the ripple effect of rising energy prices.A 10% rise in oil prices might reduce global economic growth by 0.1% to 0.2%, Ramsay said. A 30% to 40% rise in prices, like the market is now staring down now, could cut a full 1% of global growth, which would represent a “significant global slowdown,” Ramsay said on Tuesday.Today at 3:06 PM UTCGrace O'DonnellSoftware stocks get bruised as Anthropic capability revives AI fearsSoftware stocks sold off on Tuesday as Anthropic (ANTH.PVT) announced a new capability for Claude Cowork and Claude Code that revived concerns about artificial intelligence disrupting software-as-a-service (SaaS) firms' business models.Anthropic's new capability allows Claude to control your computer to complete tasks and make increasingly advanced AI agents.The iShares Expanded Tech-Software Sector ETF (IGV) declined 3.5% in late morning trading, led by a 5% drop in Palantir (PLTR) and 4% slide in Salesforce (CRM) stock.Other software names, including Oracle (ORCL), Palo Alto Networks (PANW), Snowflake (SNOW), Shopify (SHOP), Intuit (INTU), and ServiceNow (NOW), were under pressure amid signs that the AI scare trade is still here and investors are looking for proof that software stocks can make a fresh start.Today at 2:44 PM UTCPras SubramanianTesla sales rebound in Europe after massive slumpThere’s a bright spot in Tesla’s (TSLA) core auto sales, with a slight reversal of fortune in greater Europe.According to the