The three major U.S. stock indexes fell on the 5th local time as tensions between the United States and Iran continued.
As of 10:30 a.m., on the New York Stock Exchange (NYSE), the Dow Jones Industrial Average fell 643.44 points, or 1.32%, to 48,095.97. The Standard & Poor's (S&P) 500 slid 54.27 points, or 0.79%, to 6,815.23, and the Nasdaq composite dropped 149.70 points, or 0.66%, to 22,657.78.
With a full-scale conflict between the United States and Iran entering its sixth day, risk-off sentiment appeared to spread across the market. Iran's Islamic Revolutionary Guard Corps (IRGC) warned it would ramp up retaliatory attacks over the coming days. Inside the Gulf waters, an explosion followed a collision involving a small vessel, and reports said a tanker had been struck.
As the conflict escalates, international oil prices are rising again, adding to concerns about inflationary pressure and the Federal Reserve's (Fed) rate path. Still, the tech-heavy Nasdaq saw relatively limited losses.
This is seen as the effect of Broadcom's strong results. Broadcom said after the close the previous day that first-quarter revenue for the fiscal year came in at $19.311 billion, up 29% from a year earlier. That topped the market consensus of $19.18 billion. It also guided second-quarter revenue at $22.0 billion, above the $20.56 billion market view. Broadcom shares rose more than 3%.
Daniela Hathorn of Capital.com said, "A prolonged energy shock would reduce the room to cut rates, especially if headline inflation re-accelerates."
By sector, only energy and technology advanced, while the rest fell across the board. Trade Desk surged nearly 19% after IT outlet The Information reported early talks on advertising sales by OpenAI. Berkshire Hathaway said it would embark on its first share buyback since 2024, lifting the stock by nearly 2%.
By contrast, BJ's Wholesale Club fell more than 3% after its guidance missed expectations. BJ's Wholesale Club guided full-year adjusted earnings per share (EPS) to $4.40–$4.60, while the market expected $4.66.
Major European stocks also weakened across the board. The Euro Stoxx 50 fell 1.04% to 5,809.72, while Britain's FTSE 100 and France's CAC 40 each dropped 0.70% and 0.69%. Germany's DAX also fell 0.58%.
International oil prices rose. At the same time, front-month West Texas Intermediate (WTI) for April 2026 delivery climbed 5.01% to $78.40 per barrel.