All three major US stock indices closed lower, with the Dow Jones Industrial Average edging down 0.01%, the S&P 500 slipping 0.14%, and the Nasdaq Composite dropping 0.57%, as risk assets shifted into defensive mode amid an "oil-price shock + rate-hike expectations revival + tech-giant earnings divergence." The market is worried about rising oil prices driven by Middle East tensions that could rekindle inflation, and AI giants' accelerating spending putting cash flow under pressure. Trump said the US would bomb Iran's bridges or power plants if Iran fires on ships in the Strait of Hormuz; Iran responded harshly, saying it will firmly defend sovereignty. Yemen's Houthi forces announced they had struck two Saudi oil tankers and claimed to have forced around 10 vessels to turn back. Brent crude broke above $96/bbl intraday and WTI climbed to around $88/bbl, both reaching six-week highs. DOE data showed Cushing stocks fell another 674,000 barrels last week, nearing operational limits. Analysts at Standard Chartered point out that Middle East risk has evolved into a "dual-chokepoint problem." The market is once again talking about the $4/gallon gasoline threshold.