Chip Weakness, Reinstated Blockade Send Stocks Lower

President Trump has reimposed a blockade on the Strait of Hormuz

Patrick Martin

Managing Editor

Jul 13, 2026 at 12:03 PM

Stocks are firmly lower midday, as investors once more contend with higher oil prices and a semiconductor selloff. Earlier this morning, President Donald Trump reimposed the Strait of Hormuz blockade, demanding a 20% reimbursement on all cargo shipped. In response, front-month crude was last seen above $75 per barrel. The Dow Jones Industrial Average (DJI) has pivoted into the red after a modest open higher. The S&P 500 Index (SPX) and Nasdaq are sharply in the red at last look, the tech-heavy latter testing 26,000 as SK Hynix sells off on its second day of U.S. trading.

Continue reading for more on today's market, including:

Disney stock trying to keep the Dow afloat today.
Fastenal stock gets overdue upgrade.
Plus, natural gas bulls move in; Marathon's new record; and ARM leads the selloff.

MMC Stats July 13

Cheniere Energy Inc (NYSE:LNG) stock is getting blitzed by options bulls today. At last look, over 16,000 calls have changed hands, volume that's 18 times the average intraday amount. The August 280 call is leading the charge, while the 290-strike in the same series is also popular, with new positions being bought to open at both. LNG is 1.6% higher to trade at $262.77 today, as liquefied natural gas companies react to spiking oil prices. Year-to-date, the stock is 34.7% higher.

Marathon Petroleum Corp (NYSE:MPC) stock is near the top of the New York Stock Exchange (NYSE), last seen up 3.7% to trade at $294.10, and earlier hitting a record high of $296.34. Three brokerages issued price-target hikes this morning, the highest coming from Raymond James to $335 from $300. MPC is up 80% in 2026 as the U.S.-Iran conflict drags on and keeps crude prices elevated.

Arm Holdings (NASDAQ:ARM) is one of the worst semiconductor stocks on the Nasdaq today, down 6.8% to trade at $301.47. The shares are once again testing $300, an area that roughly coincides with their 50-day moving average. ARM stock is 176% higher on the year but 33% off its June 18 record high of $452.70.

MMC Stock Chart ARM

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