Major stock indices closed mostly lower on Wednesday following a sharp escalation in Middle East geopolitical tensions. The Dow and the S&P 500 fell 1.1% and 0.3%, respectively. The Nasdaq reversed earlier losses to end up 0.2% as chip stocks stabilized.
Oil prices surged after the U.S. launched fresh strikes on Iran in response to attacks on commercial ships near the Strait of Hormuz.
On Thursday, investors look forward to the release of initial jobless claims and existing home sales. On the earnings front, PepsiCo (PEP) and Simply Good Foods (SMPL) report earnings before the bell tomorrow.Disclaimer & DisclosureReport an Issue
