Dow Jones, S&P, Nasdaq open lower as Trump’s Iran remarks dent investor sentiment

US stock markets opened lower on Thursday as investors reacted to President Donald Trump’s late Wednesday address on the Iran conflict, which did little to ease concerns over the war’s outlook and instead added to uncertainty around the next phase of US military action.

At the opening bell, the Dow Jones Industrial Average fell 608 points, or 1.3%. The S&P 500 also declined 1.3%, while the Nasdaq Composite dropped 1.7%, underperforming as technology stocks led the declines.

The weakness followed Trump’s remarks suggesting that US military operations against Iran could continue for a few more weeks before any potential withdrawal within a “two to three week” timeframe.

While he said the US was “getting very close” to ending the conflict, the President also warned of further strikes on Iran in the coming weeks, heightening investor concerns.

Markets have been closely tracking developments around the Strait of Hormuz, a critical route for global oil shipments, as any disruption in the region could have direct implications for energy supply and prices.

The uncertainty fuelled a sharp rise in crude oil, with West Texas Intermediate futures up about 12% to above $112 per barrel, while Brent crude rose around 7% to above $109 per barrel.

The move in oil also reflected a broader risk-off sentiment across markets. US government bonds came under pressure, pushing yields higher, while gold softened as investors adjusted positions amid volatile global cues.

The decline in equities comes after a stronger session on Wednesday, when hopes of a potential diplomatic breakthrough lifted markets. Those gains were reversed as investors reassessed the likelihood of a quick resolution to the conflict.

Attention now shifts to key economic data releases, including weekly jobless claims on Thursday and the March jobs report on Friday. With US markets closed on Good Friday, Thursday marks the final trading session of the holiday-shortened week.