NEW YORK - The S&P 500 ended lower on July 8 after US President Donald Trump said an interim deal aimed at ending the war with Iran was “over,” while Broadcom led gains among recently battered chip stocks.

Speaking at a NATO summit in Turkey, Trump said he had no interest in further talks with Iran and warned that Washington would likely carry out additional strikes on the night of July 8.

Trump’s comments marked the latest setback in the back-and-forth talks that have swung between threats of escalation and hopes for diplomacy, leaving investors wrong-footed by several false starts towards a peace deal.

“Duration is the key here. How long does this go on?“ said Rob Haworth, senior investment strategist at US Bank Wealth Management in Seattle.

“If we see damage to Iranian infrastructure, the market may have to respond more seriously to that because there’s likely Iranian retaliation.”

SpaceX fell 0.8 per cent to US$148.38, the satellite and rocket company’s lowest close since its Wall Street debut on June 12.

Microsoft and Alphabet each fell more than 1 per cent, while Meta Platforms lost 2 per cent.

Helping keep the Nasdaq in positive territory, Broadcom rallied 4.8 per cent after Apple said it plans to spend more than US$30 billion (S$38.8 billion) as part of a chip-supply agreement reached earlier this week with the chipmaker.

“Any time you get an announcement from Apple about using your equipment, it’s pretty positive – especially when you h...