One Hormuz commodity ship and fresh AI financing frame QQQ's 1.02% drop and 0.75-point lag

QQQ finished down 1.02% and SPY 0.27%, with SPY ahead by 0.75 percentage points after both opened lower and recovered from morning lows. Tariff plans for Canadian vehicles and U.S. sanctions on Iran defined the policy backdrop during the session. Later reports said just one commodity ship crossed Hormuz on Monday, Russia's Afipsky refinery burned after a drone attack, and Nvidia-backed Lambda was discussing up to $3 billion in financing. Separately, research projected combined 2026 capital spending by Amazon, Microsoft, Alphabet and Meta at $745 billion as cloud providers weighed efficiency against AI investment.