M is trading at $17.33 (-4.25%) amid a sharp market selloff driven by escalating geopolitical tensions in the Middle East.
- Major indices are down significantly, with the S&P 500 off 0.93% and the Nasdaq down 1.23% following President Trump's address regarding the Iran conflict and potential Strait of Hormuz closure.
- While no company-specific news was found for Macy's, the stock is moving in tandem with a broader risk-off sentiment and rising oil prices.
- Tech and industrial sectors are also under pressure as investors pull back following recent market gains.