This is how I would handle it in my own tank.
Most of the time when I see something like this it ends up being a water issue. Something in the water is irritating or toxic to the corals. In your case it appears to be affecting both the corals and the algae. Rather than chasing my tail trying to test for every possible contaminant, I usually go straight to the end game solution: remove the water I am concerned about and replace it with new water. Many times that solves the issue outright, and if it does not, it still rules out a huge number of potential causes and makes finding the real one much easier.
I would start with a 30 percent water change. If things look better later that day or by the next day, that is a strong indicator that something in the water needs to be removed. In that case, I would follow up with a 90 percent water change if I have enough heated saltwater ready. If not, I would do four more 30 percent water changes. That sequence will remove roughly 82 percent of what is currently in the tank.
You can use this calculator to see the effect that different sizes and numbers of water changes have on contaminants:
https://www.hamzasreef.com/Contents/Calculators/EffectOfWaterChanges.php
Since you mentioned dinos, that is another possible cause. If the first 30 percent water change does not produce any improvement, that would probably be the next path I would investigate.
Lighting can also cause similar issues if it is too intense 250 is certainly on the high end for a LPS tank. In an LPS tank I would turn the lights down to around 150 peak PAR. That is more than enough for most LPS and can even be on the high side for some. If things improve after lowering the light, that may be the culprit.
Finally, severely underfed systems can sometimes show symptoms like this and benefit from amino acid dosing. However, based on the nutrient levels you mentioned, that seems like a less likely cause.