WTI Oil Surges 4% as US-Iran Ceasefire Collapses, Semis Drop 4.5%

Geopolitical tensions spike WTI crude 4% following missile strikes on US bases. Semiconductor sector plunges 4.5% amid earnings misses, while broader US equities close mixed.

Woofun AI reports that the informal ceasefire between the United States and Iran has collapsed, prompting Iran to launch missiles at a US military base. Consequently, WTI crude oil prices surged by 4%. In equity markets, major US indexes closed with mixed results: the Dow Jones rose 1.03%, the S&P 500 gained 0.22%, and the Nasdaq Composite fell 0.22%. The semiconductor sector suffered significant losses, with the Philadelphia Semiconductor Index dropping 4.49% to 11035.68 points, breaking below key support levels. Micron declined over 14%, Corning fell over 12%, Coherent slid more than 10%, and SK Hynix ADR dropped 9% after reporting Q2 revenue of 79 trillion Korean won, missing the 84 trillion won consensus. Conversely, Seagate Technology exceeded expectations with Q4 revenue of $3.63 billion and adjusted EPS of $5.71. SK Hynix shares recovered slightly in after-hours trading, rising 2.64%.