US stocks fell on the 7th in the New York market, with the Nasdaq Composite dropping over 1%. The dollar/yen traded in the upper 161 range, continuing near 40-year yen weakness. The US 10-year yield hit 4.5511%, a 4-week high. Crude oil futures rose 3%, driven by the US revoking licenses for Iranian oil sales and reports of ship attacks near the Strait of Hormuz. Gold futures declined.