Stocks close lower on fading hopes for quick Iran deal, mixed quarterly earnings
US stocks fell on April 23 as hopes for a quick end to the Iran conflict dimmed and concerns about AI's impact on the software sector resurfaced. The Dow Jones Industrial Average fell 0.36% to 49,310.32, while the S&P 500 and Nasdaq Composite also declined.
US stocks declined on April 23 due to fading hopes for a quick resolution to the Iran conflict and mixed quarterly earnings reports. The Dow Jones Industrial Average fell 179.71 points to 49,310.32, the S&P 500 lost 29.50 points to 7,108.40, and the Nasdaq Composite dropped 219.06 points to 24,438.50. Oil prices near $100 a barrel fueled inflation fears. Despite 82.1% of companies topping earnings forecasts, IBM and ServiceNow plummeted, while Texas Instruments surged on a strong outlook. The S&P Global US Composite PMI Output Index rose due to stock building amid supply concerns and price hikes.
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