FX.co ★ US Stocks Pare Losses

US equities were mixed on Tuesday following Monday’s rebound, as the war in the Middle East kept energy prices elevated and raised concerns for credit‑sensitive segments of the economy. The S&P 500 finished roughly unchanged, the Dow edged lower, and the Nasdaq 100 posted a modest gain. Ongoing exchanges between Iran and Israel dampened hopes for a near‑term de‑escalation, offsetting earlier optimism stemming from President Trump’s decision to delay potential strikes amid what he described as constructive talks with Tehran—talks Iran has publicly denied. Risk‑sensitive, capital‑intensive AI names sold off sharply, with Microsoft, Oracle, Palantir, and Salesforce falling between 2.5% and 6%. By contrast, defensive stocks underpinned the Dow, led by Walmart, which rose 2%. In credit markets, Apollo and Ares each declined more than 3% after becoming the latest managers to cap redemptions from their flagship private credit funds. Jefferies, meanwhile, climbed 5% on reports that Japan’s Sumitomo is weighing a takeover of the firm.