Oil Jumps on U.S.-Iran Flare-Up as Stocks Split; Bitcoin Sells Off
Hyperdash NewsMacroOil surged to its highest close in more than two weeks after President Trump threatened to bomb Iran and reimpose a naval blockade, stoking full-conflict fears around the Strait of Hormuz. The S&P 500 edged lower while the Nasdaq eked out a gain, and Bitcoin sold off sharply.
Scoreboard
- S&P 500 7,483 (-0.28%)
- Euro Stoxx 50 6,205 (-1.82%)
- Nikkei 225 66,819 (-2.11%)
- Gold 4,092 (-1.57%)
- WTI 74.01 (+5.07%)
- US 10Y 4.571% (+4bp)
- DXY 100.9860 (-0.04%)
- Bitcoin 62,187 (-2.56%)
- VIX 16.76 (+3.91%)
- DE 10Y 3.082% (+0bp)
The session turned on energy. WTI jumped to 74.01 and Brent rose to 78.48 as the renewed U.S.-Iran hostilities raised the prospect of disrupted flows through the Strait of Hormuz. The S&P 500 slipped to 7,483, pressured by the oil shock, while the Nasdaq edged up to 25,871. Fed minutes showed officials split on rates, with a few making the case for a hike, nudging the US 10Y up +4bp to 4.571%. The VIX jumped +3.91%. Gold jumped to 4,092. Bitcoin fell to 62,187.
Key headlines
- Oil ends at its highest price in over two weeks as flare-up in U.S.-Iran hostilities suggests end to cease-fire
- Nvidia’s stock trades at a juicy discount, according to BofA
- Michael Burry bets on sportsbooks DraftKings and Flutter, sees prediction markets curbed by regulation
- More than two-thirds of tech stocks are at least 20% off recent highs. What’s happening to the AI trade?
The takeaway
The divergence between a firmer Nasdaq and a softer S&P 500 reflects a market weighing an energy-driven inflation risk against still-resilient megacap technology. With the VIX jumping and Bitcoin selling off sharply, investors trimmed risk at the margin even as they kept faith in the AI leaders.
Attention turns to whether the U.S.-Iran standoff escalates toward the full-conflict conditions traders fear around the Strait of Hormuz, which would keep oil bid. Markets will also parse the Fed's internal split after minutes showed a few officials favoring a hike, and watch whether the tech advance can hold as the broader index softens.
View the S&P 500 chart and data on Hyperdash
Frequently asked questions: July 8, 2026
What happened in the markets today?
Oil jumped, with WTI closing at 74.01 and Brent at 78.48, on renewed U.S.-Iran hostilities. The S&P 500 edged down to 7,483 while the Nasdaq rose to 25,871, and Bitcoin fell sharply to 62,187.
Did the stock market go up or down today?
It was mixed. The S&P 500 edged lower by -0.28% to 7,483, while the Nasdaq rose +0.20% to 25,871.
Why did markets move today?
A flare-up in U.S.-Iran hostilities sent oil sharply higher and lifted the VIX by +3.91%, while Fed minutes showing officials split on rates, with a few favoring a hike, pushed the US 10Y up +4bp.
How did the S&P 500 do today?
The S&P 500 edged lower by -0.28% to close at 7,483, weighed by the jump in oil prices even as the Nasdaq advanced.
What did the dollar and Treasury yields do today?
The dollar index was little changed at 100.9860, slipping -0.04%, while the US 10Y yield edged up +4bp to 4.571% after the Fed minutes.
Where can I track live market data across asset classes?
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