Wall Street falls as US-Iran tensions spike, Bitcoin drops to $73K amid rising oil prices.

Wall Street's major indexes closed lower on June 3 due to escalating US-Iran military tensions, causing oil prices to surge and investor confidence to wane. The Dow Jones fell 1.2%, the S&P 500 dropped 0.74%, and the Nasdaq slid 0.89%. Bitcoin also declined to around $73,000, with the broader crypto market losing 2.8% in value. Rising oil prices driven by conflict in the Strait of Hormuz are fueling inflation fears, impacting interest rate expectations and prompting a rotation from tech and financial stocks to energy shares like Exxon Mobil and Chevron. Investors should watch oil prices closely as continued supply concerns could complicate Federal Reserve rate decisions and market dynamics.