US stocks fall on Iran tension and rate fears

American stocks declined today amidst fears of escalating tensions with Iran and rising oil prices, raising concerns about inflation and increasing the likelihood of interest rate hikes by the Federal Reserve at its upcoming meeting. Military clashes in the Middle East, particularly in the Strait of Hormuz, led to an increase in oil prices, with expectations growing that interest rates will be raised by more than 60% in September. The Dow Jones index fell by 0.65%, though it was on track to achieve monthly gains, while technology stocks such as Nvidia and Sandisk rose. Meanwhile, PG&E's stock experienced a significant decline.

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