Wall Street equities slipped in morning trading as a breakdown in cease-fire talks between Washington and Tehran pushed crude oil near three-week highs and Treasury yields to levels not seen since 2007.

Wall Street reached a milestone as the S&P 500 notched a record-high close, fueled by heavyweight tech stocks and easing inflation concerns.

U.S. equities closed mixed with the S&P 500 staying above 7,400 while technology shares lagged as investors braced for upcoming earnings and a Federal Reserve decision.