U.S. stocks in New York ended mixed with sharp volatility after hard-line remarks on Iran by U.S. President Donald Trump.
On the 2nd (local time) in New York, the Dow Jones Industrial Average finished at 46,504.67, down 61.07 points, or 0.13%, from the previous session. The Standard & Poor's (S&P) 500 rose 7.37 points, or 0.11%, to 6,582.70, and the tech-heavy Nasdaq composite closed up 38.234 points, or 0.18%, at 21,879.18.
The New York stock market opened sharply lower after Trump said in a nationally televised address the previous night that he would deliver a strong blow to Iran over "two to three weeks," dashing investors' hopes for an end to the conflict.
During the session, a report that Iran was preparing a protocol to monitor vessels passing through Oman and the Strait of Hormuz prompted a brief rebound, and the market swung back and forth.
International oil prices, which had fallen the day before, rebounded sharply.
June Brent crude futures settled at $109.03 per barrel, up 7.8% from the previous session. May West Texas Intermediate futures also jumped 11.4% to $111.54 per barrel.
With economic uncertainty mounting, the market is focused on the March U.S. Labor Department jobs report due on the 3rd. The New York Stock Exchange will be closed for Good Friday.
Melissa Brown, a researcher at SimCorp, said, "Investors are reacting immediately," and noted, "They want good news but still see high uncertainty, increasing intraday volatility."