US Stocks Drop on Iranian Energy Attacks and Inflation Data

Reports of fresh attacks on Iranian energy infrastructure, compounded by hotter than expected wholesale inflation data, erased two consecutive sessions of seemingly improving sentiment and weighed heavily on equities on Wednesday, as Dow Industrials and S&P 500 both saw their worst levels of the year at intraday lows.   Basic Materials and Consumer names - both Cyclical and Defensive - were some of the worst performing sectors in the benchmark index, and while Energy was higher amid ongoing volatility in Oil prices, investors fret that higher prices at the pump will transfer into reduced demand for the consumption-oriented economy.  The Vix also spiked back above the 25 level and Treasury yields rose.The Fed decision saw rates remain unchanged as widely expected and Fed Chair Powell sought to tamp down concerns that higher rates might be needed as a result of oil-driven price pressure, with the CME FedWatch tool now pricing in a coinflip on whether 2026 will bring any Fed rate cuts at all.In the opening hour of the evening session, equity futures remained under pressure - S&P 500 e-minis and Nasdaq 100 contracts are both trading down about 0.2%.  In energy, WTI Crude Oil resumed trading higher, rising above $98 per barrel.  Gold and Silver are both down sharply, trading just above $4,820 and $75 per ounce respectively as fresh strength in U.S. Dollar pressured precious metals.Check out this evening's top movers from around Wall Street, compiled by The Fly.HIGHER AFTER EARNINGS -SUNation Energyup 9.7%EquipmentShare.comup 8.0%DLocal Limitedup 6.9%Five Belowup 6.6%ALSO HIGHER -Rocket Labup 3.1% after announcing $190M contract for  hypersonic test flightsDOWN AFTER EARNINGS -Heartflowdown 7.7%Microndown 4.3%Red Cat Holdingsdown 3.5%Usiodown 2.5%ALSO LOWER -Guardian Pharmacy Servicesdown 6.9% after equity offering