U.S. stocks fall for third day on August 11 as Hormuz fears grow

U.S. stocks extended their losing streak on August 11 as fading optimism over Middle East stability and doubts about any deal to secure passage through the Strait of Hormuz (a key oil transit route) pushed investors into a risk-off posture. The Dow Jones Industrial Average closed at 53,791.85, down 184.13 points, or 0.34%, the Nasdaq Composite fell 171.04 points, or 0.64%, to 26,434.32, and the S&P 500 lost 26.25 points, or 0.34%, to 7,726.86. Amazon.com and Alphabet came under selling pressure, helping drive the S&P Communication Services sector down 2.12%, while higher crude prices lifted the Energy sector 1.06%; Utilities rose 1.11% and Industrials added 0.60%, even as Consumer Discretionary fell 0.75% and Real Estate slipped 0.86%. The Philadelphia Semiconductor Index (SOX) rose 76.12 points, or 0.64%, to 12,069.98 in a partial rebound from the prior session's 2.42% slide, while the CBOE Volatility Index (VIX, Wall Street's fear gauge) eased 0.97% to 15.31 and NYSE volume totaled about 522 million shares versus roughly 546 million in the prior session. Over the three trading sessions from August 7 to August 11, the Dow fell 0.45%, the Nasdaq lost 0.96%, and the S&P 500 dropped 0.40%, as investors also faced a lack of fresh catalysts after most major earnings reports and lingering concern over stretched technology valuations; the outlook remains tied to Middle East developments, with risks of higher energy prices and supply chain disruption.

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U.S. stocks fall for third day on August 11 as Hormuz fears grow - CoinPost Terminal