WASHINGTON (dpa-AFX) - Stocks have moved mostly lower during trading on Thursday, giving back ground following the strength seen in the previous session. The major averages have all moved to the downside, with the tech-heavy Nasdaq showing a notable decline.
Currently, the Nasdaq is down 210.28 points or 1 percent at 21,719.54 and the S&P 500 is down 43.15 points or 0.7 percent at 6,548.75. The narrower Dow is posting a more modest loss after briefly turning positive, down 91.36 points or 0.2 percent at 46,338.13.
The pullback on Wall Street extends the see-saw trend seen over the past few sessions, as traders react to continued volatility by the price of crude oil.
International benchmark Brent crude futures are surging by more than 5 percent after tumbling by more than 2 percent during Wednesday's trading.
The rebound by the price of crude oil comes amid lingering uncertainty about the status of Middle East peace talks. Iran dismissed an American plan to pause the war, insisting that it will only occur on Tehran's own terms and timeline.
In a post on Truth Social, President Donald Trump described Iranian negotiators as 'very different' and 'strange' but claimed they are 'begging' the U.S. to make a deal.
'They better get serious soon, before it is too late, because once that happens, there is NO TURNING BACK, and it won't be pretty!' Trump warned.
Concerns about further widening of the conflict may also be weighing on the markets after several Gulf countries issued a joint statement condemning Iran's 'criminal' attacks on their energy infrastructure.
The statement by the U.A.E., Kuwait, Bahrain, Saudi Arabia, Qatar and Jordan specifically calls out attacks carried out by armed factions loyal to Iran from Iraqi territory.
'While we value our fraternal relations with the Republic of Iraq, we call on the Iraqi government to take the necessary measures to immediately halt the attacks launched by factions, militias, and armed groups from Iraqi territory toward neighboring countries,' said the statement.
The Gulf countries reaffirmed their right to self-defense as well as their right to 'take all necessary measures to safeguard our sovereignty, security, and stability.'
Sector News
Semiconductor stocks are turning in some of the market's worst performances on the day, dragging the Philadelphia Semiconductor Index down by 3.2 percent.
Considerable weakness is also visible among computer hardware stocks, as reflected by the 2.4 percent slump by the NYSE Arca Computer Hardware Index.
Networking stocks have also shown a significant move to the downside, while oil producer stocks are moving higher along with the price of crude oil.
Other Markets
In overseas trading, stock markets across the Asia-Pacific region moved mostly lower during trading on Thursday. Japan's Nikkei 225 Index dipped by 0.3 percent, while China's Shanghai Composite Index slumped by 1.1 percent.
The major European markets have also moved to the downside on the day. While the French CAC 40 Index is down by 0.4 percent, the U.K.'s FTSE 100 Index and the German DAX Index are both down by 1 percent.
In the bond market, treasuries are giving back ground following the rebound seen in the previous session. Subsequently, the yield on the benchmark ten-year note, which moves opposite of its price, is up by 4.4 basis points at 4.372 percent.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
