US stocks fell on Monday as rising Middle East tensions rattled markets and sent oil prices briefly above $90 a barrel during the session. The Dow Jones Industrial Average dropped 307 points, or 0.6%, to close at 51,839, marking a third consecutive day of declines. The S&P 500 slipped 0.2% to 7,443, while the Nasdaq Composite edged down 12 points to 25,508.
Geopolitical risks dominated sentiment after Iran declared it faces a "total war" with the United States and reinforced its control over the Strait of Hormuz. Yemen's Houthi movement announced an immediate naval blockade targeting Saudi Arabia in the Red Sea. President Donald Trump vowed on social media to make Iran pay "many times over" for each US soldier killed.
The Philadelphia semiconductor index rebounded as Advanced Micro Devices rose on a chip-supply deal with Microsoft's Azure cloud platform. In corporate news, Hut 8 Mining shares jumped nearly 12% on a major data center lease, and Tempus AI agreed to acquire Personalis in a $1.5 billion all-stock deal. AMC Entertainment gained 11% on stronger-than-expected quarterly results.