Stocks plunged to multi-month lows amid oil-linked fears and conflict uncertainty, even as officials sought to calm markets. Commentators have tied the sell-off to the failed US-Iran talks and the president's Strait of Hormuz blockade, warning that elevated oil risk and higher risk premia may keep volatility elevated. The S&P's decline continues to outpace median historical shocks, reinforcing expectations of persistent market unease.
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