US Stocks Close Slightly Lower, Market Awaits Certainty on End of Iran Conflict
US stocks closed slightly lower on Tuesday (March 10), as gains in the communication services sector were insufficient to lift sentiment, which remains clouded by uncertainty over the end of the Iran conflict. Meanwhile, a sharp decline in oil prices after a strong rally in the previous session helped ease concerns about energy-driven inflation, but was insufficient to boost broad risk appetite.
The benchmark S&P 500 index fell 0.2% to 6,782.43, while the Dow Jones Industrial Average weakened 0.1% to 47,706.51. The Nasdaq Composite closed slightly higher, gaining just 1 point to 22,697.10. This movement follows a highly volatile Monday session, when the major indexes briefly fell sharply before rebounding and closing higher.
Although President Donald Trump said the war could end "very soon," the fighting is said to show no signs of slowing, with the US launching its heaviest airstrikes yet against Iran.
In remarks at his Florida golf club on Monday, Trump again linked the conflict to the stability of energy markets, threatening additional attacks if Iran tries to impede oil flows through the Strait of Hormuz—a vital waterway through which about a fifth of the world's crude oil passes. Trump also said he was considering taking control of the strait, amid disruptions that have rattled global markets and sparked fears of a surge in inflation.
Source: Newsmaker.id
