APP is trading at $414.29 (-4.71%) as geopolitical tensions and hotter-than-expected inflation data trigger a broad market selloff.
- Geopolitical escalations, including U.S.-Israel strikes on Iran and conflict between Pakistan and Afghanistan, have driven oil prices up 8-10%.
- Major indices are under pressure with the S&P 500 down 0.90% and the Nasdaq falling 1.06%, reflecting significant tech sector weakness.
- Stronger-than-anticipated PPI data has fueled concerns regarding persistent inflation, potentially delaying expected Federal Reserve rate cuts.