The three major indexes on the New York stock market opened lower on concerns that war between the United States and Iran could flare up again.
As of 9:47 a.m. on the 23rd (local time) in New York, the Dow Jones Industrial Average on the New York Stock Exchange was down 132.61 points, or 0.27%, at 49,357.42. The Standard & Poor's (S&P) 500 was down 16.83 points, or 0.24%, at 7,121.07, and the Nasdaq composite was down 88.32 points, or 0.36%, at 24,569.25.
The decline in the three major New York stock indexes was seen as weakness driven by the possibility that war between the United States and Iran could reignite. U.S. President Donald Trump posted on his social network service, Truth Social, that "I have ordered the U.S. Navy to immediately sink any vessel, no matter how small, that is laying mines in the Strait of Hormuz."
The remark came two days after President Trump released that he would extend the truce negotiation deadline indefinitely. On the 10th of last month, before the first round of truce talks, President Trump also warned, "We have already struck and destroyed 10 ships attempting to lay mines," adding, "If Iran tries to blockade the strait, there will be military consequences unlike anything seen so far."
By sector, technology, semiconductors and big tech were weak. Across software and broader tech, disappointments after earnings led to selling pressure, expanding the decline. In particular, a plunge in ServiceNow and weakness in IBM dampened sentiment across software. Major names such as Microsoft and Salesforce, Inc. also fell in tandem.