US stock indices dropped on Thursday on Middle East standoff and a batch of mixed earnings also dented investor sentiments.
At the Open, the Dow Jones Industrial Average fell 205.2 points, or 0.41%, to 49,284.85. The S&P 500 fell 19.1 points, or 0.27%, to 7,118.8, while the Nasdaq Composite dropped 103.8 points, or 0.42%, to 24,553.747.
The S&P 500 and Nasdaq had shrugged off a jump in oil prices to close at record highs on Wednesday.
The US Defense Department on Thursday said its forces seized another tanker in the Indian Ocean that was transporting crude oil from Iran, while US President Donald Trump said that he has ordered the US Navy to “shoot and kill” boats placing mines in the Strait of Hormuz.
Iran vowed it would keep the strait closed to all except a few approved vessels for as long as the United States blockaded its ports.
Key Stock Movers
Tesla stock fell 1.7% and Lockheed Martin dropped 3.7%, while American Airlines jumped 4.9%.
