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Arnne Carragie

S&P 500 Sheds 19 Points: AI Profit-Taking and Strait of Hormuz Clashes Ignite 250-Point Intraday Whipsaw

The S&P 500 fell 0.26% to close at 7,386.65 as an initial 1% artificial intelligence rally dissolved into widespread profit-taking. Escalating U.S.-Iran military strikes and defensive hedging ahead of the vital May CPI report triggered a massive 245-point intraday whipsaw.