Middle East worries push Wall Street lower as oil and bond yields rise

Wall Street closed lower Thursday as Middle East worries resurfaced, pushing oil prices and bond yields higher. The Dow fell 0.85%, the Nasdaq 0.06%, and the S&P 500 0.18%. Investors questioned the strong early-week rebound fueled by hopes of a US-Iran deal. Iran and Oman announced a new Strait of Hormuz transit route, seen as vague. Oil rose about 3%, and ten-year Treasury yields climbed to 4.67% from 4.61%. Disappointing corporate earnings also weighed: SanDisk fell 6.81%, Western Digital 13.03%, and Figma 14.76% on weak forecasts. Markets now await Friday's July employment report for Federal Reserve policy clues.