The Nasdaq plummeted sharply on Wednesday, dragging the tech‑heavy index after the Dow and S&P 500 moved lower.
Oil prices spiked after the United States withdrawn Iran’s licence to sell oil.
Chip stocks fell further, intensifying the sell‑off.
Former President Donald Trump announced the cease‑fire was over, which increased market unease.
Shares of Atkore, Trane Technologies and Kimball Solutions also slipped as the session unfolded.
Traders identified the oil surge and political statement as the chief drivers of the broad decline.
The market finished with the Nasdaq down several percent.