US Stocks Decline on Rising Uncertainty Over US-Iran Ceasefire

US stocks dropped on Thursday as traders weighed developments in the tense stalemate between the US and Iran.

The S&P 500 Index closed 0.4% lower in New York, paring a drop of as much as 1.3%, while the Nasdaq 100 Index finished down 0.6% . Brent crude gained 4.5% to $106.46. The Cboe Volatility Index hovered around 19. Meanwhile, the SOX Index advanced 1.7%, extending its record-breaking win streak to 17 days.