Japan Financial Markets

Sinking AI stocks and another climb in oil prices helped pull Wall Street off its record heights. The S&P 500 fell 0.5% Tuesday from its latest all-time high. The Dow Jones Industrial Average dipped 0.1%, while the Nasdaq composite fell 0.9% from its own record. Chip companies Nvidia and Broadcom were the heaviest weights on the market. Oil prices rose by more than 2.5% as uncertainty continues about when the Strait of Hormuz could reopen and allow oil tankers to leave the Persian Gulf again. Treasury yields held relatively steady following a surprise increase in confidence among U.S. consumers.