The major US stock indices are closing lower on the day, but well off their session lows after buyers stepped in during the latter part of trading. Concerns about the Iranian war, sharply higher oil prices and yields initially pushed the indices lower, but a reversal in the US session helped to retrace some of the declines.
Comments from Pres. Trump that he would ensure the passage of tankers and ships through the Strait of Hormuz helped to alleviate the fear, send low prices lower and stocks rebounding back to the upside.
Despite the reversal, the major indices are still closing down the day.
- The S&P 500 is closing down -64.99 points (-0.94%) at 6816.63. Earlier in the session, the index was under much heavier pressure, falling as much as -171.20 points at the lows before rebounding. That earlier decline pushed the index below the December 17 low at 6720.43, marking the lowest level since November 25, before buyers helped stabilize the market.
- The NASDAQ index also traded sharply lower earlier in the day, falling to a new low for 2026, the weakest level since November 21. At its worst, the index was down -624.07 points, but it recovered into the close and is finishing the day down -232.17 points (-1.02%).
- The Dow Jones Industrial Average is closing down -403.51 points (-0.83%) at 48,501.27. Earlier in the session, the Dow dropped as much as -1,277.93 points, highlighting the significant intraday volatility before the late-day rebound trimmed losses.
The small-cap Russell 2000 was the worst performer with the decline -1.79% at 2608.35.
