Stock market today: Dow, S&P 500, Nasdaq slide amid inflation worries as Iran war sends oil surging

Corporate Performance - Micron's shares dropped in premarket trading as the chipmaker's plans for AI spending overshadowed its strong earnings [4] - Alibaba's stock slid following a 67% plunge in quarterly profit, highlighting the need for a return on its AI investments [4] Industry Trends - Oil prices surged, with Brent crude futures rising as much as 10% to $119 a barrel amid escalating attacks on oil and gas facilities in the Middle East [2] - The spread between US benchmark West Texas Intermediate crude and Brent crude widened to its largest gap in years, with WTI hovering around $97 [2] - Rising inflation forecasts from the Federal Reserve are dampening expectations for interest rate cuts, with jobless claims declining to 205,000 [3]