Dow Drops Amid Middle East Tensions and SK Hynix Sell-Off

Wall Street had a rough session as the Dow Jones Industrial Average dropped under the weight of multiple negative catalysts. A fresh flare-up of hostilities involving Iran prompted investors to trim risky positions and move into safer assets. A sharp decline in shares of South Korean chipmaker SK Hynix — a major supplier of AI server memory — dealt a heavy blow to the technology sector. Markets were also in a holding pattern ahead of the Federal Reserve's rate decision, which kept buying interest subdued. The S&P 500 and Nasdaq both closed in the red, though select defensive stocks managed to hold their ground.