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BUSINESSJul 13 · 13:50 UTCWPLG LOCAL 10 MIAMIBy STAN CHOE, Associated Press

Oil prices rise following the latest fighting in the Middle East, as AI stocks sink

Oil prices increased 3.2% to $78.46 per barrel due to Middle East conflicts over the Strait of Hormuz, while AI-related stocks like Micron Technology and SK Hynix declined sharply. The S&P 500 fell 0.2% and the Nasdaq dropped 0.7% as chipmakers faced losses amid concerns about unsustainable AI demand.

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United StatesplaceIranplaceStrait of HormuzplaceMicron TechnologyorganizationSK HynixorganizationSouth KoreaplaceTaiwan Semiconductor Manufacturing Co.organizationS&P 500topicNasdaq Compositetopic
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