U.S. stocks slid Tuesday as the rotation out of high-flying chip and artificial-intelligence names resumed, dragging the Nasdaq 100 down over 3% and pulling the S&P 500 back below 7,300. • iShares Russell 2000 Index Fund shares are experiencing downward pressure.
Why are IWM shares declining?
A parallel collapse in oil prices — crude sank roughly 6% as Israel and Iran halted strikes — did little to steady equities ahead of Wednesday's pivotal consumer price report.
Rather than cuts, markets are now pricing roughly even odds of around 50% that the Federal Reserve delivers a rate hike as soon as October, a hawkish tilt that continues to pressure the most richly valued corners of the market.
President Donald Trump said on social media that a U.S. helicopter was shot down while conducting a patrol mission over the Strait of Hormuz.
