Iran tensions escalate, water systems hit by cyberattack, chip stocks slide
- Renewed Iran-related military tensions unsettled energy markets and investor sentiment.
- A cyberattack affected more than 30 Minnesota water systems; drinking water was reported safe.
- Iran was suspected but not publicly confirmed as responsible, while chip stocks were also pressured by AI valuation concerns.
Tensions involving Iran and the United States sharpened again in late July after reported Iranian missile activity against US-linked targets in the Middle East, prompting renewed concern over the regional conflict and oil supplies. Markets reacted to the risk of disruption around the Gulf, while a separate sell-off…