United States equities closed mixed on Wednesday (Thursday AEDT) as investors weighed escalating tensions in the war between the United States and Iran alongside surging oil prices and fresh inflation data.
The Dow Jones Industrial Average declined 289.2 points or 0.6% to finish at 47,417.3. The S&P 500 slipped 5.7 points or 0.1% to close at 6,775.8, while the Nasdaq Composite ticked up 19.0 points or 0.1% higher, to end the session at 22,716.1.
Energy markets were a central focus for investors as crude prices rallied sharply amid concerns that the conflict could disrupt global supply routes.
West Texas Intermediate crude futures rose more than 5.9% to settle at US$88.35 per barrel, while Brent crude climbed about 4.8% to finish at $91.98 per barrel.
The gains came despite an announcement from the International Energy Agency (IEA) that it would release 400 million barrels of oil from its reserves in an effort to stabilise markets and offset supply disruptions triggered by the conflict.
The Strait of Hormuz, a vital shipping corridor for global energy supplies, remained at the centre of market concerns.
U.S. forces on Tuesday reportedly sank several Iranian vessels, including 16 minelayers, near the strait after Tehran attempted to mine the shipping route.
In a separate development, the United Kingdom Maritime Trade Operations reported that three cargo vessels off Iran’s coast had been struck by projectiles, including one ship operating in the Strait of Hormuz.
Despite the geopolitical uncertainty, technology stocks provided some support to the broader market.
Shares of Oracle jumped 9.2% after the software company reported fiscal third-quarter results that exceeded analyst expectations and issued stronger-than-anticipated revenue guidance.
The company also raised its fiscal 2027 revenue outlook, citing strong demand linked to the ongoing boom in artificial intelligence investment.
The gains in Oracle helped lift the Nasdaq into positive territory, even as other sectors faced pressure.
In financial markets, JPMorgan Chase reportedly marked down the value of certain loans held by private credit groups and tightened its lending standards for the sector.
The report weighed on alternative asset managers, with shares of Ares Management falling 4.8% and Apollo Global Management declining 1.9%.
Consumer staples stocks also struggled. Campbell’s shares dropped 7.1% after the packaged food company lowered its full-year forecasts and warned of mounting pressure in the second half of the year due to revised U.S. tariffs.
Defence contractor AeroVironment also came under pressure, sliding 6.3% after projecting 2026 adjusted profit below market expectations.
Investors also digested fresh inflation data released earlier in the day. The Labor Department’s consumer price index (CPI) report came in at 2.4%, and matched analyst expectations.
On the bond markets, 10-year and 2-year rates were up 1.9% and 1.8% to 4.234% and 3.657%, respectively.
