- U.S. and European stocks slipped, with chipmakers like Applied Materials, Broadcom and Intel dragging the S&P 500 off record highs.
- Oil jumped more than $1 a barrel as faltering U.S.–Iran talks and threats of tougher measures (including a possible naval blockade) pushed up energy and geopolitical risk.
- Softer U.S. retail sales and weaker consumer sentiment cut Fed‑hike odds, weighing on the dollar while boosting gold.