Wall Street’s main indexes opened lower Thursday, following previous gains, as caution surrounds developments in the Middle East. Investors are closely watching for signs of de-escalation in the ongoing conflict, but have received conflicting signals.
Asian stocks are also trading mostly lower amid continued uncertainty regarding the war in Iran and prospects for a resolution. Stock futures moved lower as efforts to end the conflict showed limited progress.
Oil prices have risen alongside the geopolitical tensions, with fluctuations continuing as the Strait of Hormuz – a vital waterway for global crude oil transport – remains closed. This closure impacts a significant portion of the world’s crude supply.