[New York Stock Exchange] All Major Indices Close Lower as US-Iran Tensions Flare Up Again

New York Stock Exchange. New York, USA ? Special Correspondent Yoonju Hwang

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As tensions between the United States and Iran escalated, all three major U.S. stock indices closed lower on April 23 (local time).

At the New York Stock Exchange (NYSE), the Dow Jones Industrial Average ended at 49,310.32, down 179.71 points (0.36%) from the previous trading day. The S&P 500 index, which focuses on large-cap stocks, fell by 29.50 points (0.41%) to 7,108.40, while the tech-heavy Nasdaq index dropped 219.063 points (0.83%) to close at 24,438.504.

The market appeared subdued as tensions in Iranian waters heightened amid an unstable ceasefire. On the same morning, U.S. President Donald Trump stated, "I have ordered the U.S. Navy to shoot and kill any vessel, no matter how small, that attempts to lay mines in the Strait of Hormuz." This was interpreted as a warning to Iran regarding mining operations in the Strait of Hormuz.

Later, the U.S. Central Command announced via X (formerly Twitter) that "the aircraft carrier George H.W. Bush is sailing in the Indian Ocean, within the Central Command's area of responsibility, on April 23," indicating that a third aircraft carrier had been deployed to the Middle East.

As military tensions flared up once again, all three major indices weakened, while international oil prices closed higher. On the ICE Futures Exchange, June delivery Brent crude surged 4.28% to close at $106.32 per barrel. On the New York Mercantile Exchange, June delivery West Texas Intermediate (WTI) crude finished at $95.85 per barrel, up 3.11% from the previous session.

Fawad Razaqzada of Forex.com commented, "There remains considerable uncertainty on the diplomatic front between the two sides," adding, "What is even more concerning is the persistent uncertainty surrounding the Strait of Hormuz. The lack of a clear plan to reopen the strait means uncertainty remains high."

Investors also focused on corporate earnings releases that day. Software-related stocks fell as concerns over market changes driven by artificial intelligence (AI) resurfaced, following disappointing results from IBM and ServiceNow (SNA).

Most large-cap stocks also declined. Nvidia fell by 1.82%, Apple by 0.34%, Microsoft (MS) by 9.14%, Amazon by 0.57%, TSMC by 1.71%, Alphabet by 0.34%, Meta by 2.74%, and Tesla by 3.93%.

In particular, Microsoft and Meta, both of which announced large-scale job cuts that day, saw especially steep declines. The two companies stated that the layoffs were aimed at reducing costs in connection with their significant AI investments. Tesla, despite reporting better-than-expected earnings, saw its stock price fall as its plans for increased investment came into focus.

In contrast, energy and oil stocks such as ExxonMobil (up 0.57%), Chevron (up 0.58%), Occidental Petroleum (up 1.21%), Diamondback Energy (up 0.71%), and APA (up 1.33%) closed higher.

Chris Kampitsis, Managing Partner of the SKG team at Barnum Financial Group, commented, "The stock market has been trying to stabilize following a remarkable rebound since the March low. I expect prices to move sideways in the short term as the market awaits its next catalyst."

Ama Hets and Oliver Blackbourn of Janus Henderson said, "Investors have rallied around the core assumption that the war and its resulting global economic disruption will be short-lived." They added, "Our investment sentiment and positioning indicators have fallen into capitulation territory across several market segments, which could signal an attractive entry point."

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