Oil markets rose as Iranian media reported a tanker seizure in the Strait of Hormuz, pushing Brent crude to about $91 a barrel. President Trump warned he would bomb Oman if it hindered U.S. peace efforts with Iran, while Iran has hardened its stance, striking several tankers. The escalation also pressured bonds, with the 30‑year Treasury yield hitting a 5.31% 19‑year high and the 10‑year yield edging up to 4.725%.

Economic data added to the malaise. U.S. retail sales missed expectations and China’s July retail sales grew only 0.6% year‑over‑year, underscoring a slowdown in the world’s second‑largest economy. Investors are now watching upcoming earnings from Target and Walmart to gauge consumer health.

Tech stocks showed mixed performance. Space X jumped 4.5% after filings revealed major backers including Nvidia, Harvard University and Peter Thiel. The Dow fell 0.5%, the Nasdaq slipped 0.3% and the S&P 500 lost 0.5%. Meanwhile, a Wall Street Journal analysis found nine top tech firms have roughly $3 trillion of off‑balance‑sheet AI commitments, far exceeding disclosed capital expenditures.