The S&P 500 slipped 0.3% as fresh US-Iran tensions sent oil prices surging and rattled semiconductor stocks, with the Nasdaq Composite falling 0.8% in early trading on July 13, 2026.
Brent crude, the international oil benchmark, rose 3.4% to nearly $79 a barrel on Monday as the US and Iran traded fresh military strikes, according to The New York Times. The price jump reflected traders’ concerns that renewed hostilities could disrupt energy exports from the Middle East and threaten a fragile ceasefire that had brought prices down earlier in the summer.
The stock market’s weakness reflected a dual shock: energy costs climbing on geopolitical risk, and technology stocks — particularly semiconductor makers — falling as investors reassessed their valuations. Nasdaq-100 futures declined 0.9% in premarket trading, with chip stocks leading the losses as market participants questioned the sustainability of AI-driven gains, according to Investor’s Business Daily.
Futures contracts for the S&P 500 fell 0.3%, while Dow Jones Industrial Average futures remained essentially flat, according to reports from Spectrum News and the Hartford Courant. The divergence reflected a market bifurcation: defensive energy stocks benefited from oil’s surge, while growth-dependent technology and chip stocks bore the brunt of profit-taking.
The Strait of Hormuz, through which roughly a quarter of global oil passes, has become a flashpoint in the conflict. Both the US and Iran disputed whether the waterway remained open after the latest round of strikes, adding to market uncertainty about supply disruptions. When the ceasefire collapsed in early July, crude had climbed nearly 5% in a single day, according to Reuters, as traders priced in the risk of prolonged energy shortages.
Oil price volatility tied to Middle East conflict has rippled through markets repeatedly this year. In March 2026, when the initial US-Israel war on Iran began, Brent crude surged from about $70 per barrel to an average of $103 per barrel by the month’s end, according to Encyclopedia Britannica. Analysts have warned that a sustained rise above $100 per barrel could add 0.6-0.7 percentage points to global inflation, according to DW.
Sources
- Spectrum News — S&P 500 futures decline, Nasdaq futures tumble, oil price jump on Iran-US attacks
- The New York Times — Brent crude rose 3.4% to nearly $79 on July 13, 2026
- Hartford Courant — S&P 500 futures fell 0.3%, Nasdaq futures tumbled 0.8%
- Reuters — Crude oil prices settled nearly 5% higher after US threats of fresh strikes against Iran
- Al Jazeera — Brent crude rose more than 4% on Monday as US and Iran traded attacks
- Boston Herald — Brent crude rose 3.2% to $78.46 after US-Iran fighting
- Investor’s Business Daily — Nasdaq-100 futures declined 0.9% amid chip stock weakness
- Encyclopedia Britannica — Oil prices surged from $70 to average $103 per barrel in March 2026 during Iran war
- DW — Rise in Brent to $100 per barrel could add 0.6-0.7 percentage points to global inflation
