Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.2%), Nasdaq Composite (+0.1%), and DJIA (-0.3%) are retreating from their best levels of the session following headlines that Iran has asserted it will fire on any ship that attempts to pass through the Strait of Hormuz.

This headline is causing added concerns about supply disruption translating into higher oil prices and energy costs. The stock market will be assessing if this threat will be allowed to persist or if it will be mitigated by an assertive response from the U.S.