SPY is trading at $765.47, down 0.76%, as oil rose after President Trump rejected Iran’s proposal to reopen the Strait of Hormuz, renewing geopolitical and inflation concerns. - Brent crude was reported above $108 per barrel. - Treasury yields climbed above 5.2% as investors braced for this week’s inflation data and jobs report. - The broader market was lower, with the Nasdaq underperforming the S&P 500; no reliable live volume figure was provided.