Stocks Fall as Chip Selloff Outweighs Drop in Oil: Markets Wrap

Stocks fell as a selloff in chipmakers outweighed a decline in oil prices, with Treasury Secretary Scott Bessent pledging to isolate Iran from the global economy. The market decline was driven by weakness in semiconductor stocks, while oil prices dropped. Bessent's comments on Iran added to geopolitical uncertainty, but the chip selloff was the primary factor pressuring equities.