Dow Closes Down 400 Points, Iran War Volatility Still Heating Up
US stocks experienced another wild session on Tuesday, as concerns that the US-Iran conflict could drag on for a longer period rattled the market. However, comments by President Donald Trump in the second half of the session were seen as alleviating some investor anxiety.
The Dow Jones Industrial Average fell 403.51 points, or 0.83%. The S&P 500 fell 0.94%, while the Nasdaq Composite fell 1.02%. However, intraday volatility was high: at its lowest point of the day, the S&P 500 had fallen 2.5% and the Nasdaq was down around 2.7%. The Dow even plunged more than 1,200 points (around 2.6%) before paring its losses near the close.
The paring of losses came after Trump said the US Navy would escort tankers through the Strait of Hormuz if necessary. In a post on Truth Social, Trump emphasized that the US would ensure the smooth flow of global energy, while hinting at further steps.
In energy markets, Brent (the global benchmark) was last seen rising around 2%, well below its high of the day, after surging 6% on Monday. WTI also pared gains and was last up around 2%, extending its 6% rally from the previous session. Both had rallied more than 9% in the session before easing off.
Source: Newsmaker.id
