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Stocks retreated from record highs, with the Dow down 0.6% and Nasdaq slipping 0.1% as investors awaited Iran’s response to a US peace proposal and oil prices rose on Strait of Hormuz concerns. The S&P 500 fell 0.4%. Sentiment in the AI-led tech trad

2026-05-08

Stocks retreated from record highs, with the Dow down 0.6% and Nasdaq slipping 0.1% as investors awaited Iran’s response to a US peace proposal and oil prices rose on Strait of Hormuz concerns. The S&P 500 fell 0.4%. Sentiment in the AI-led tech trade cooled after mixed chip earnings, while labor data showed AI-linked layoffs in tech and cooler-than-expected jobless claims ahead of Friday’s jobs report.

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Maersk CEO: The Middle East wars have had a huge impact on our energy costs.
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