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The NASDAQ and S&P 500 turned positive on Monday, rebounding from sharp declines earlier in the day, as investors monitored the U.S. and Israel strikes on Iran over the weekend.
The Dow Jones Industrial Average lopped off 60.6 points to 48,904.08.
The much-broader dwindled 3.01 points to 6,875.87.
The NASDAQ regained 74.64 points to 22,551.68.
The joint U.S.-Israeli strikes killed Supreme Leader Ayatollah Ali Khamenei, marking a watershed moment for the Islamic Republic and one of its most consequential episodes since 1979. Iranian officials vowed a forceful retaliation against the strikes, raising fears the conflict could escalate further across the region as blasts were heard in places such as Dubai and Abu Dhabi.
President Donald Trump told the media that U.S. military operations in Iran are “ahead of schedule,” but investors are still worried about a prolonged conflict despite those comments.
The three major averages rallied off their nadirs as gains in technology stocks such as Nvidia and Microsoft helped trim the losses. The NASDAQ was down as much as 1.6% at one point, while the S&P 500 and Dow pulled back around 1.2% each at their session lows.
On top of tech, a rise in defense stocks helped the major averages recoup a chunk of their losses. Northrop Grumman advanced around 4%, as did RTX, while Lockheed Martin climbed 3%. Energy shares including Exxon Mobil and Chevron saw gains as well.
Prices for the 10-year Treasury weakened, hiking yields to 4.05% from Friday’s 3.96%. Treasury prices and yields move in opposite directions.
Oil prices remained in the green $4.20 to $71.22 U.S. a barrel.
Gold prices regained $67.30 to $5,315.20 U.S. an ounce.
