Global Markets Navigate Geopolitical Tensions Amid Sector-Specific Rallies

Global equity markets display heightened volatility following tensions over the Strait of Hormuz and failed U.S.-Iran peace talks. The S&P 500 closed down 0.1% at 6,816.89 points, while the Nasdaq gained 0.4%, buoyed by AI semiconductor giants. Technology and basic materials sectors are recording year-to-date gains of 13.7% and 16.25% respectively.