Update: US Equity Indexes Recover From Session Lows as Iran Strikes Designed to Stop Islamic Republic From Hormuz Attacks
(Updates with index/price moves, macroeconomic data, and political news from the first paragraph.) US equity indexes closed off session lows after President Donald Trump said strikes against Tehran should not be interpreted as a return to full-scale war, and his Deputy JD Vance signaled Washington is attempting to stop Iran from attacking maritime traffic in the Strait of Hormuz. The Dow Jones Industrial Average dropped 1.1% to 52,348.39, with the S&P 500 down by 0.3% to 7,482.71 on Wednesday. The Nasdaq Composite rose 0.2% to 25,870.65, after trading about 1% lower intraday. Technology and energy were the only gainers. Materials, real estate, and consumer discretionary led the decliners. The CBOE Volatility Index jumped 4.8% to 16.90, retreating from a gain of about 13% around midday. The US has launched more strikes against Iran "to further degrade their ability to threaten freedom of navigation in the Strait of Hormuz," US Central Command said Wednesday, according to CNN. Iranian state media reported explosions in several cities, including Bushehr, Chabahar, Konarak, Bandar Abbas, and Sirik. Trump had said earlier in the day that the latest back-and-forth fighting would.
(Updates with index/price moves, macroeconomic data, and political news from the first paragraph.) US equity indexes closed off session lows after President Donald Trump said strikes against Tehran should not be interpreted as a return to full-scale war, and his Deputy JD Vance signaled Washington is attempting to stop Iran from attacking maritime traffic in the Strait of Hormuz.
The Dow Jones Industrial Average dropped 1.1% to 52,348.39, with the S&P 500 down by 0.3% to 7,482.71 on Wednesday.
The Nasdaq Composite rose 0.2% to 25,870.65, after trading about 1% lower intraday.
Technology and energy were the only gainers.
Materials, real estate, and consumer discretionary led the decliners.
The CBOE Volatility Index jumped 4.8% to 16.90, retreating from a gain of about 13% around midday.
The US has launched more strikes against Iran "to further degrade their ability to threaten freedom of navigation in the Strait of Hormuz," US Central Command said Wednesday, according to CNN.
Iranian state media reported explosions in several cities, including Bushehr, Chabahar, Konarak, Bandar Abbas, and Sirik.
Trump had said earlier in the day that the latest back-and-forth fighting would.