The S&P 500 dipped on Thursday, while the price of U.S. oil moved back above $100 as traders continued to monitor the Middle East after the U.S. and Iran agreed to a two-week ceasefire.
The Dow Jones Industrials dived 131.14 points to 47,778.78.
The broader index sank 16.44 points to 6,766.37.
The NASDAQ faded 91.62 points, or 2.8%, to 22,543.38.
The moves come after the three leading U.S. indexes each popped more than 2% during Wednesday’s session, with the Dow seeing its best day since April 2025 — back when Trump softened his stance on some of his lofty initial tariffs.
U.S. military forces will remain deployed in and around Iran until Tehran fully complies with the “real agreement,” Trump said Wednesday, warning that any breach would trigger a military response larger than anything seen before.
Meanwhile, overall traffic through the strait has still not improved since the ceasefire deal was announced, as only some bulk carriers — which carry dry cargo rather than oil — have traversed the key waterway.
Prices for the 10-year Treasury dragged, raising yields to 4.32% from Wednesday’s 4.30%. Treasury prices and yields move in opposite directions.
Oil prices shot higher $7.42 to $101.83 U.S. a barrel.
Gold prices acquired $12.20 to $4,789.40 U.S. an ounce.
