✅ Wall Street Rally Pauses as U.S.–Iran Negotiation Uncertainty Returns Wall Street traders faced a more fragile market tone after mixed signals emerged around a possible agreement to reduce tensions with Iran and restore oil flows through the Strait of Hormuz. Although equities remained near record highs, the $SPX finished nearly flat as momentum slowed. Bank stocks led the downside on Wednesday, while a major semiconductor index also weakened. Meanwhile, $META jumped after unveiling plans for paid AI chatbot subscriptions aimed at offsetting rising infrastructure costs. $USOIL stabilized below $89 per barrel as traders continued pricing in a possible diplomatic outcome. President Trump expressed frustration with the pace of negotiations, reducing hopes for a quick breakthrough. At the same time, the U.S. denied reports from Iranian media claiming a temporary agreement draft already exists involving the reopening of Hormuz within one month. Trump also stressed that no single country would control the strategic waterway — highlighting one of the biggest unresolved issues in ending the nearly three-month confrontation. However, he gave little detail on how free maritime passage would actually be guaranteed and also appeared less willing to support broad sanctions relief for Iran. Secretary of State Marco Rubio said: “The next few hours and days will show whether real progress is possible.” He added that Steve Witkoff, Jared Kushner, and Vice President JD Vance remain heavily involved in negotiations. Market take: Markets are still leaning toward diplomacy over escalation — but confidence is clearly becoming more cautious. $SPX near highs. $USOIL calming down. But headline risk remains extremely elevated. #USIranDealOnTheEdge