US Stock Market Today | Dow Jones | Nasdaq Live: US markets dip at open on Middle East tensions, mixed earnings
US stocks opened lower on Thursday due to uncertainty over the Iran conflict and mixed earnings reports. Shares of cannabis firms surged after the US government moved to reclassify marijuana as a less-dangerous drug.
US stocks opened lower on Thursday, with the Dow Jones Industrial Average falling 205.2 points to 49,284.85, the S&P 500 dropping 19.1 points to 7,118.8, and the Nasdaq Composite declining 103.8 points to 24,553.747. The decline was attributed to investor caution amid uncertainty over the Iran conflict and mixed earnings reports. Shares of cannabis firms, including Cronos Group, Aurora Cannabis, Canopy Growth, and Tilray Brands, jumped between 6% and 13% after the US Department of Justice announced it would reclassify marijuana as a less-dangerous drug. US software stocks fell in premarket trading after IBM and ServiceNow reported slowing growth, reviving fears about AI-driven disruption. IBM's revenue growth slowed in the first quarter, pressured by weakness in its software business, while ServiceNow flagged a hit to its first-quarter subscription revenue growth due to delays in Middle East deals.
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