S&P 500 Falls 0.79% to 7,515.84 as Iran Tensions Hit Chips

On July 13 the S&P 500 closed down 0.79% at 7,515.84 as renewed U.S.-Iran hostilities lifted oil prices and triggered a broad selloff in semiconductor stocks. The pullback reversed a strong advance that began with futures gains on July 5-6 amid softer-inflation optimism and accelerated July 8-10 as AI enthusiasm drove the index to a 7,575.29 close, fueled by SK Hynix’s record $26.5 billion Nasdaq debut. Geopolitical risk resurfaced on July 13, pushing the VIX up 14% and sending chip names sharply lower while energy shares rallied.