Markets Dive From Record Highs Amid Fresh Iran Tensions. Stock Futures Drop.

Stocks looked set to fall on Thursday as tensions flared up in the Strait of Hormuz, giving investors a good excuse to trim some of their holdings following a record-breaking rally for equities. The dollar ticked up 0.1% against a weighted basket of its peers and the yield on the 10-year Treasury note was 1 basis point higher, at 4.32%.