US stocks close Thursday mixed amid uncertainties related to Iran war

The New York Stock Exchange ended the week’s final trading day with mixed results as tensions in the Middle East persisted.

The Dow dropped by 0.13%, or 61.07 points, to close at 46,504.67.

The Nasdaq composite rose by 0.18%, or 38.23 points, to 21,879.18, while the S&P 500 saw a slight increase of 0.11%, or 7.37 points, to 6,582.69.

The Volatility Index (VIX), often referred to as the market’s “fear index,” fell by 2.73% to 23.87 as of 2030GMT.

While news regarding the US/Israel-Iran conflict remained in the spotlight for investors, stock markets saw mixed trading.

Reports that Iran is working on a protocol with Oman to monitor shipping traffic in the Strait of Hormuz partially eased market concerns following US President Donald Trump’s remarks indicating that attacks on Iran would continue.

Oil prices, which had been on an upward trend since the start of hostilities in the Middle East but had recently shown signs of decline amid expectations that tensions in the region might ease, began rising again following Trump’s remarks.

As of 0900GMT, the price of Brent crude rose by 7.6% to $108.90 per barrel. At the same time, the price of West Texas Intermediate (WTI) crude also climbed by 11.6% to $111.80 per barrel.

Rising energy costs have intensified concerns that inflationary pressures could resurface, while also increasing uncertainty regarding the US Federal Reserve’s (Fed) monetary policy outlook.

Markets in the US will be closed due to the “Good Friday” holiday.

- European stocks

European stocks posted declines excluding UK; the pan-European Stoxx Europe 600 index lost 0.18% to close at 596.63 points.

The UK’s FTSE 100 increased 0.69% to 10,436.29, Germany’s DAX went down 0.56% to 23,168.08 and France’s CAC 40 dropped 0.24% to 7,962.39.

Italy’s FTSE MIB 30 was down 0.2% to finish at 45,624.94 while Spain’s IBEX 35 posted a decrease of 0.14% to 17,555.90.