U.S. stocks experienced a decline on Thursday as hopes for a swift resolution to the ongoing Iran war diminished. The S&P 500 index fell by 29.86 points, or 0.42%, closing at 7,108.04 points, while the Nasdaq Composite dropped 218.14 points, or 0.88%, to 24,439.42 points. The decline was influenced by increasing tensions in the Strait of Hormuz, where Iran tightened its control and released footage of military actions, leading to concerns about rising oil prices, which are nearing $100 a barrel. Additionally, investor sentiment was affected by mixed earnings reports, with 82.1% of the 123 companies reporting earnings exceeding analyst expectations, yet the tech sector faced challenges. Notably, IBM's revenue growth slowed, and ServiceNow reported difficulties due to delays in government deals, raising concerns about traditional software business models being disrupted by AI advancements. Despite the overall market decline, Texas Instruments saw a surge after forecasting better-than-expected revenue and profit for the second quarter.