U.S. Stocks Slip Thursday as Oil Jumps After Trump Dents Hopes for Iran-War Breakthrough
U.S. equities fell on Thursday in choppy trading while oil prices climbed, after President Donald Trump’s comments suggested the war in Iran would continue for weeks — tempering expectations for a near-term resolution.
The Dow Jones Industrial Average was last down about 100 points, or 0.2%. The S&P 500 and Nasdaq Composite were last lower by 0.1% and 0.2%, respectively. At the session lows, the Dow was down more than 600 points, or 1.4%, while the S&P 500 and Nasdaq were off 1.5% and 2.2%, underscoring the market’s sensitivity to shifting geopolitical signals.
All three major indexes briefly surged after Iranian state media reported that Tehran is working with Oman on a protocol to “monitor” ships passing through the Strait of Hormuz. The headline fueled hopes of improved oversight and potentially more predictable passage through the strategic chokepoint, even as investors continued to weigh the broader risk of disruption to energy flows.
“It’s pivotal for the United States that the Strait is reopened, not so much because of oil but because of helium,” said Todd Schoenberger, chief investment officer at CrossCheck Management. He argued helium is “more valuable than foreign oil” given its use in semiconductor processing and that “there is no substitute for it.”
“Expect more volatility going into the long weekend,” he added.
Markets continued to swing between gains and losses through the session as traders digested the mixed signals. The CBOE Volatility Index (VIX), often referred to as Wall Street’s fear gauge, rose above 25.
Source : Newsmaker.id
