<p>U.S. equities fell broadly on Thursday as surging crude oil prices amplified stagflation fears linked to the escalating conflict in Iran.</p>



<p>West Texas Intermediate crude rallied 8.6% to $94.76 a barrel, while Brent crude gained 7.9% to $99.25, having briefly crossed $100 a barrel overnight.</p>



<p>In his first TV appearance, Iran’s Supreme Leader <strong>Mojtaba Khamenei</strong> reitered that the Strait of Hormuz remain closed — a chokepoint carrying roughly 20% of global oil supply. </p>



<p>The risk-off mood deepened after President <strong>Donald Trump</strong> wrote on social media that higher oil prices mean &#34;a lot of money” for America. Meanwhile, traders fully priced out the final Fed rate cut previously expected for late 2026.</p>



<p>By midday trading in New York, the S&amp;P 500 fell 1.0% to 6,700, the Dow Jones Industrial Average dropped 1.2% to 46,860, and the Nasdaq 100 declined 1.3% to 24,635. The Russell 2000 underperformed, losing 1.7% to 2,500. </p>



<p>Energy was the session’s bright spot, with the <strong>Energy Select Sector SPDR Fund </strong>(NYSE:XLE) gaining 2.1%. Nine of 11 S&amp;P 500 sectors traded lower. The <strong>Industrial Select Sector SPDR Fund</strong> (NYSE:XLI) and the <strong>Consumer Discretionary Select Sector SPDR Fund</strong> (NYSE:XLY) each fell 1.6% to lag the broader market.</p>



<p>Within earnings movers, <strong>Dollar General Corporation (NYSE:DG)</strong> reported fourth-quarter fiscal 2025 diluted EPS of $1.93 on revenue of $10.9 billion, a 5.9% year-over-year gain, topping analyst estimates. </p>



<p>However, fiscal 2026 guidance disappointed, with the company projecting same-store sales growth of 2.2%–2.7% and revenue of roughly $44.1 billion at the midpoint, below the Wall Street consensus of $44.43 billion, sending shares down by 4.5% – the company’s worst session thus far in 2026. </p>



<h2>Fertilizers And Chemicals Jump On Risks Of Prolonged Hormuz Disruption</h2>



<p>Fertilizer and chemical stocks led the gainers board as Strait of Hormuz disruptions choked global supply routes for ammonia, urea, sulfur and petrochemicals. Roughly 30% of global fertilizers and 48% of traded sulfur transit the region, and both flows have been severely curtailed, handing U.S. producers immediate pricing power.</p>



<p><span><strong>CF Industries Holdings, Inc.</strong> (NYSE:CF), North America’s largest nitrogen fertilizer producer, surged 13.4%, and it’s up more than 22% over the past two sessions – on pace for the company’s largest 2-day rally in history.</span> </p>



<p><strong>The Mosaic Company (NYSE:MOS)</strong> gained 8.9%; its phosphate and potash margins benefit directly from supply disruptions to Gulf-sourced sulfur and ammonia, two critical production inputs.</p>



<p>Petrochemical stocks ripped alongside fertilizers. <strong>Dow Inc. </strong>(NYSE:DOW) rose 8.4%, <strong>LyondellBasell Industries N.V. </strong>(NYSE:LYB) climbed 7.3% and <strong>Celanese Corporation</strong> (NYSE:CE) surged 13.1%.</p>



<h2>Thursday’s Performance In Major US Indices, ETFs</h2>



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>Major Indices</th><th>Price</th><th>% Change</th></tr></thead><tbody><tr><td>Nasdaq 100</td><td>24,636.24</td><td>-1.3%</td></tr><tr><td>S&amp;P 500</td><td>6,704.94</td><td>-1.0%</td></tr><tr><td>Dow Jones</td><td>46,861.80</td><td>-1.2%</td></tr><tr><td>Russell 2000</td><td>2,500.36</td><td>-1.7%</td></tr></tbody></table><figcaption><em>Updated by 12:20 p.m. ET</em></figcaption></figure>



<p>According to Benzinga Pro data:</p>



<ul>
<li>The<strong> Vanguard S&amp;P 500 ETF</strong> (NYSE:VOO) fell 1.2%. </li>



<li>The<strong> SPDR Dow Jones Industrial Average</strong> (NYSE:DIA) fell 1.3%. </li>



<li>The tech-heavy <strong>Invesco QQQ Trust Series </strong>(NASDAQ:QQQ) declined 1.5%. </li>



<li>The<strong> iShares Russell 2000 ETF</strong> (NYSE:IWM) traded 2.0% lower. </li>
</ul>



<h2>Russell 1000’s Top 5 Gainers And Losers On Thursday</h2>



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>Stock Name</th><th>% Change</th></tr></thead><tbody><tr><td><strong>CF Industries Holdings, Inc.</strong></td><td>+13.42%</td></tr><tr><td><strong>Celanese Corporation </strong></td><td>+13.06%</td></tr><tr><td><strong>The Mosaic Company </strong></td><td>+8.91%</td></tr><tr><td><strong>Dow Inc. </strong></td><td>+8.40%</td></tr><tr><td><strong>LyondellBasell Industries N.V. </strong></td><td>+7.34%</td></tr></tbody></table></figure>



<figure class="wp-block-table is-style-stripes"><table><thead><tr><th>Stock Name</th><th>% Change</th></tr></thead><tbody><tr><td><strong>Fermi Inc. (NASDAQ:FRMI)</strong></td><td>-8.17%</td></tr><tr><td><strong>Weatherford International plc (NASDAQ:WFRD)</strong></td><td>-8.10%</td></tr><tr><td><strong>Qnity Electronics, Inc. (NYSE:Q)</strong></td><td>-7.09%</td></tr><tr><td><strong>e.l.f. Beauty, Inc. (NYSE:ELF)</strong></td><td>-7.07%</td></tr><tr><td><strong>Lucid Group, Inc. (NASDAQ:LCID)</strong></td><td>-6.97%</td></tr></tbody></table></figure>



<p><em>Photo: Shutterstock</em></p>

<p>U.S. stocks fell on Thursday as crude oil prices surged amid escalating tensions in Iran, with West Texas Intermediate crude rising 8.6% to $94.76 a barrel. The S&P 500 dropped 1.0%, while the Dow Jones and Nasdaq fell 1.2% and 1.3%, respectively. Fertilizer and chemical stocks gained significantly due to supply disruptions in the Strait of Hormuz, with CF Industries up 13.4%. Dollar General's disappointing fiscal 2026 guidance led to a 4.5% drop in its shares. Overall, nine of the eleven S&P 500 sectors traded lower, reflecting a risk-off sentiment in the market.</p>

- U.S. equities declined significantly on Thursday, driven by rising crude oil prices amid fears of stagflation linked to the escalating conflict in Iran, which closed the Strait of Hormuz.  
- While the energy sector saw gains, with fertilizers and chemicals benefiting from supply disruptions, major indexes such as the S&P 500 and Dow Jones reported losses of 1.0% and 1.2% respectively.  
- Dollar General Corporation's disappointing fiscal 2026 guidance contributed to a 4.5% drop in its shares, highlighting broader market challenges amid geopolitical tensions.

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Stocks Fall, Oil Surges To $95 On Hormuz Standoff: What's Moving Markets Thursday?