Stock market today: Dow sags, S&P 500 and Nasdaq waver as Hormuz tensions increase
US stocks were jittery on Monday as concerns about escalation in the Iran conflict eclipsed optimism stoked by strong quarterly earnings growth. The Dow Jones Industrial Average dropped 0.4%, while the S&P 500 slipped 0.1% and the Nasdaq Composite held roughly flat.
US stocks were mixed on Monday as tensions in the Strait of Hormuz escalated. The Dow Jones Industrial Average dropped 0.4%, the S&P 500 slipped 0.1%, and the Nasdaq Composite was flat. Reports that two Iranian strikes hit a US patrol boat and a US warship was turned back in the Strait of Hormuz caused markets to slide into the red in premarket trading. The US denied the reports from Iranian media outlets. President Trump announced that the US would start guiding trapped ships out of the Strait of Hormuz on Monday. Oil prices pulled back from sharper early-morning gains after the US military said two US-flagged vessels had successfully transited the waterway. Brent crude futures held onto gains of 1.5% to trade near $110 a barrel. Earnings from major semiconductor manufacturers and results from Palantir will highlight the week.
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