On May 15, 2025, U.S. stock markets experienced a notable decline, retreating from record highs driven by artificial intelligence enthusiasm. The Dow Jones Industrial Average fell 406.40 points (0.81%) to 49,657.06, while the S&P 500 and Nasdaq Composite dropped 0.67% and 0.73%, respectively. This downturn was primarily influenced by rising crude oil prices, which sparked inflation concerns amid geopolitical tensions, particularly related to the ongoing conflict with Iran. The yield on 10-year Treasury notes reached its highest level since May 2025, reflecting investor anxiety over long-term inflation. As Jerome Powell's term as Federal Reserve chair concludes, incoming chair Kevin Warsh faces pressure to address potential interest rate hikes, with the likelihood of a 25 basis point increase in December rising to nearly 40%. While energy stocks gained 1.6%, the broader market saw declines, with the Philadelphia SE Semiconductor Index falling 2.3%. Overall, declining issues outnumbered advancers significantly, indicating a cautious market sentiment.