US Stocks Slip as Oil Nears Mid-$80s Amid Escalating West Asia War, Fed Rate Cut Doubts

• US stocks, including S&P 500, Dow Jones, and Nasdaq, slipped on Thursday as oil prices surged amid escalating conflict involving Iran.
• Brent crude rose 3.3% to $84.05 a barrel, while US benchmark crude gained 4.3% to $77.90, driven by Iran's attacks on Israel and American bases.
• Rising energy costs spark concerns over household spending, global economic growth, and potential delays in Federal Reserve interest rate cuts.
• US gasoline prices jumped 9% to $3.25 per gallon; uncertainty about oil reaching $100/barrel and its impact on the global economy persists.
• Broadcom's strong earnings helped mitigate market losses, while Treasury yields rose, pushing Fed rate cut forecasts further into the summer.