The major U.S. stock indices ended the session in the red, with the Dow Jones, S&P 500, and Nasdaq Composite all posting modest declines. The S&P 500 closed at 7,064.01, down 45.13 points (-0.63%), while the Nasdaq Composite finished at 24,259.97, down 144.43 points (-0.59%). The Dow Jones closed at 49,149.38, down 293.18 points (-0.59%). The moves were relatively broad, with all three indices declining, suggesting a cautious tone among investors. The decline in the Nasdaq, which had reached a new all-time high earlier in the session, was particularly notable, as it reversed its earlier gains amid rising oil prices and concerns over the U.S.-Iran talks.

The most significant macro and sector drivers behind today's market performance were the ongoing tensions in the Persian Gulf and the uncertainty surrounding the U.S.-Iran peace talks. Rising oil prices, driven by fresh tensions in the region, contributed to a risk-off sentiment, as energy stocks and related sectors were under pressure. Additionally, the testimony of Federal Reserve chair nominee Kevin Warsh before the Senate, as well as the announcement of a change in Apple's CEO, added to the mixed sentiment in the market. Despite these factors, the market remained relatively stable, with no significant sector-specific themes emerging from the headlines.