S&P 500 Wavers as Chip Rout Offsets US-Iran Hopes: Markets Wrap

U.S. stocks wavered as a selloff in chipmakers weighed on the market, offsetting gains from a slump in oil prices driven by hopes for diplomatic efforts to end the war in Iran. The S&P 500 fluctuated between gains and losses, with technology shares under pressure while energy stocks declined. Investors monitored geopolitical developments and earnings reports for direction.