Worries about the war with Iran sent oil prices back to $100 per barrel and stocks sinking worldwide. The S&P 500 fell 1.5% Thursday and returned to big swings following a couple days of relative calm. The Dow Jones Industrial Average dropped 1.6%, and the Nasdaq composite sank 1.8%. The center of action was again the oil market, where the price of a barrel of Brent crude got as high as $101.59. Treasury yields climbed in the bond market on worries about higher inflation and fewer cuts to interest rates by the Federal Reserve.

Nvidia's sales of its artificial intelligence chipsets rose at a slower pace than analysts anticipated during the company's latest quarter, a letdown likely to stoke worries that technology's latest craze has been fool's gold. The results announced Wednesday were hotly anticipated because Nvidia has emerged as a bellwether of a two-year-old AI boom that has been propelling the stock market to new heights while making the Silicon Valley chipmaker the first with a $4 trillion market value. Although Nvidia's second-quarter profit and total revenue were higher than analyst forecast, sales in the company division responsible for its AI chips were slightly below projects. Nvidia's stock slid 2% in extended trading.

Tesla gave Elon Musk a stock grant of $29 billion on Monday as a reward for years of "transformative and unprecedented" growth despite a recent foray into right-wing politics that has hurt its sales, profits and its stock price. In giving its billionaire CEO 96 million in restricted shares, the electric car company noted that Musk hasn't been paid in years because his 2018 compensation package has been rejected by a Delaware court. Tesla on Monday called the grant a "first step, good faith" way of retaining Musk and keeping him focused, citing his leadership of SpaceX, xAI and other companies.