Wall Street Down 0.7% Awaiting Iran Response

US equity indices fell, with the Dow slipping 0.7% to 49,577.53, S&P 500 down 0.4% to 7,339.79, Nasdaq marginally lower.
Oil prices eased, Brent fell 0.7% to $100.55 a barrel and WTI dropped 0.2% to $94.87 amid uncertainty over Strait of Hormuz.
US job cuts rose 38% month‑over‑month to 83,387 in April, the highest since 2009, while initial unemployment claims edged to 200k.
Earnings season boosted sentiment, with S&P 500 earnings growth projected at 24.6% Q1 and AI‑driven firms like Arm seeing volatile share moves.