US Stocks End Lower Amid Iran War Concerns
The Dow Jones Industrial Average fell 0.07%, or 34.29 points, closing at 47,706.51, while the S&P 500 dropped 0.21%, or 14.51 points, to 6,781.48. In contrast, the Nasdaq Composite inched up 0.01%, or 1.16 points, to 22,697.10. The Volatility Index (VIX), often referred to as the “fear index,” declined 2.24% to 24.93, reflecting some stabilization after earlier market turbulence.
Markets experienced extreme swings as oil prices recorded one of the most dramatic intraday reversals in recent years. Brent crude briefly surged above $100 per barrel amid fears of supply disruptions from the Iran war and potential threats to shipping through the Strait of Hormuz, a critical passage accounting for roughly one-fifth of global oil shipments.
However, prices later fell sharply after geopolitical concerns eased. US President Donald Trump had indicated on Monday that the conflict with Iran could conclude “very soon.” Brent futures dropped more than 8% to around $89 per barrel, while West Texas Intermediate (WTI) fell nearly 7% to about $87 per barrel, down from overnight highs near $119—the highest levels since Russia’s 2022 invasion of Ukraine.
US Energy Secretary Chris Wright said Tuesday that the US Navy had “successfully escorted an oil tanker through the Strait of Hormuz,” crediting Trump with maintaining energy stability during the military operations in the region. In a post on the social media platform X, Wright stated that the Navy ensured oil continued flowing to global markets by guiding the tanker through the strategic waterway, though the post was later deleted without explanation.
Iran denied the claim, asserting that no American vessel would approach the region amid ongoing hostilities.
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