Stocks pulled back on Thursday, led by a drop in software and higher oil prices, with investor uncertainty toward the trajectory of the Iran war hovering over the market.
The Dow Jones Industrial Average remained in the red 47.66 points to 49,310.32.
The S&P 500 index stumbled 29.51 points to 7,108.39.
The NASDAQ slid 219.06 points to 24,438.50.
Still, geopolitical relations in the region remain tense. A lack of commitment from Iran reportedly resulted in Vice President J.D. Vance pausing his trip to join peace talks.
Iran state media also reported that Tehran negotiators said they wouldn’t be present, calling talks with the U.S. a “waste of time.” And on Wednesday, Iran’s navy said that it had seized two container ships in the Strait of Hormuz.
Trump has also ordered the Navy to “shoot and kill any boat” laying mines along the strait.
Prices for the 10-year Treasury dropped, raising yields to 4.32% from Wednesday’s 4.31%. Treasury prices and yields move in opposite directions.
Oil prices jumped $3.47 to $96.43 U.S. a barrel.
Gold prices took a header, $36.90, to $4,716.30 U.S. an ounce.
