Market Updates

Wall Street Indexes Dropped 2% Amid Uncertainty Related to War On Iran

Barry Adams
02 Apr, 2026
New York City

    Stocks in New York faced renewed skepticism amid new worries of uncertainties in the Middle East. 

    The S&P 500 Index decreased 1.4%, and the tech-heavy Nasdaq Composite fell 1.7% as investors took their cue from the oil market. 

    The price of a barrel of West Texas Intermediate crude oil soared 9.2% to $190.25 after the U.S. president said war could continue for several weeks and threaten to reduce Iran to "Stone Age."

    Thursday marks the last trading session of this week, and financial markets are closed for Good Friday. 

    On the economic front, investors are awaiting weekly jobless claims data later today and March's jobs report on Friday.

    Despite a series of economic headwinds, the job market has remained resilient, but businesses have slowed hiring and firing in the previous twelve months. 

     

    U.S. Movers 

    Investors are looking ahead to the start of the earnings season, and Delta Airlines and Levi Strauss are set to release early next week.

    Oil complex stocks headed higher after crude oil prices soared following the U.S. president's remarks. 

    Exxon Mobil, Chevron, ConocoPhillips, Devon Energy, and Diamondback Energy advanced as much as 4%. 

    Delta Air Lines, United Airlines, Alaska Air, and Southwest Airlines fell between 4% and 5%. 

    Royal Caribbean, Carnival, and Norwegian Cruise Line dropped between 3% and 5%.

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