Last night, the S&P 500 index experienced another broad sell-off, falling below 6400 points. The Nasdaq 100 index dropped over 1.9%, closing at 23,100 points. The significant sell-off in the US stock market was mainly due to the ongoing closure of the Strait of Hormuz, leading to a foreseeable oil crisis. The crypto market was also affected, fluctuating and weakening. A trend reversal is only possible after the US-Iran conflict ends.