Oil Jump Triggers Market Selloff as Middle East Tensions Rise

U.S. stocks ended their nine-session winning streak as oil climbed on renewed Middle East tensions after Iran missiles hit Kuwait and Bahrain and the U.S. struck Iran’s Qeshm Island; the S&P 500, Nasdaq-100, and Russell 2000 fell while energy led gains and tech lagged, with ADP private payrolls showing stronger hiring that could keep the Fed hawkish. Bitcoin traded around $63,700 as crypto markets slid, while some names advanced on AI or other headlines (e.g., GameStop’s buyback, Meta’s AI subscription) and others retreated after capital-market news, including big declines for private-credit peers after withdrawal caps and PVH cutting revenue outlook amid geopolitical headwinds.