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Affected by Iran shooting down a US Apache helicopter and Trump's response remarks, the industrial sector gave back its midday gains, with AXON down 4.6%, MEI down 4.1%, and BLNK down 3.4%. Escalating military conflict in the Strait of Hormuz has dampened CEO investment confidence, delayed capital expenditure decisions, coupled with a year-end rate hike probability exceeding 50%, putting pressure on the industrial sector. Axon's recent earnings were strong: Q4 revenue of $796.7 million, up 38.5% YoY, beating expectations; adjusted EPS of $2.15, well above the $1.60 estimate. Today's decline is seen as a normal market reaction to news, not fundamental deterioration.