Stock market today: Dow plummets, S&P 500 and Nasdaq fall as oil surges to highest levels since 2024
On March 5, 2026, U.S. stocks closed out Thursday's trading session in the red as Wall Street failed to build on a rebound session, with conflict in the Middle East holding focus amid a renewed surge in oil prices. The Dow Jones Industrial Average led the way down, closing the session with a loss of around 1.6%, or more than 750 points. The S&P 500 fell around 0.6%, and the tech-exposed Nasdaq Composite lost a slimmer 0.3%. Focus remained on conflict in the Middle East, as attacks between the US-Israel coalition and Iran had spread across the region. Thursday marked the sixth day of violence, with no immediate signs of abatement.
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Stocks sink as oil prices sizzle and U.S. hiring fizzles
On March 6, 2026, U.S. stocks fell, closing out a week of turbulence on Wall Street marked by signs that the U.S. labor market is weakening and mounting concerns about the economic impact of the war in Iran. The S&P 500 sank 91 points, or 1.3%, to close at 6,740, while the Dow Jones Industrial Average fell 489 points, or 1%. The tech-heavy Nasdaq Composite lost 1.1%. The declines followed a steep drop on Thursday, with the Dow losing 785 points, or 1.6%, and the S&P 500 and Nasdaq falling 0.6% and 0.3%, respectively. The downturn came after the release of the February employment report, which showed employers shed 92,000 jobs in February, undershooting economists' forecasts of 60,000 payroll gains.
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US stocks hold steadier as Wall Street waits for the next signal on how long war with Iran may last
On March 10, 2026, U.S. stock markets remained relatively stable as investors awaited clearer signals on the duration of the ongoing war with Iran. The S&P 500 eased by 0.2%, the Dow Jones fell slightly by 34 points (0.1%), while the Nasdaq edged up by less than 0.1%. Much of the market volatility is driven by extreme fluctuations in oil prices, which had briefly surged to nearly $120 per barrel before retreating to $87.80 after President Donald Trump suggested the war might be nearing an end. However, mixed messages from Trump and Iran's continued aggression—particularly attacks on Israel and Gulf Arab nations—sustained global uncertainty. A key concern remains the closure of the Strait of Hormuz, a vital oil shipping route, prompting warnings from Trump and analysts about potential historic supply disruptions. Analysts, like Hakan Kaya of Neuberger Berman, emphasized the binary nature of oil’s trajectory depending on the strait’s reopening. Meanwhile, strong corporate movements were noted: Vertex Pharmaceuticals jumped 8.3% following positive drug trial news, and West Pharmaceutical Services fell 5.7% amid leadership transition plans. Global markets responded positively, with Asia and Europe seeing notable gains, and U.S. Treasury yields also edged upward amid the turmoil.
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