Equity Alert
US indices end lower as strife in West Asia escalates again
This story was originally published at 07:53 IST on 5 May 2026
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Equity Alert: US indices end lower as strife in West Asia escalates again
MUMBAI--0740 IST--Indices on the Wall Street closed lower Monday after concerns over the war in West Asia reared their head again. Market sentiment weakened after the United Arab Emirates said Iran launched missile attacks and drones against it. Meanwhile, US President Donald Trump said the US military struck seven Iranian boats in the Strait of Hormuz. Brent Crude oil futures soared above $110 per barrel again on the back of these developments. Among the key S&P 500 sectoral indices, the S&P 500 Energy was the only one to close in the green, up almost 1%.
In an interview with Fox News, Trump said that Iran will be "blown off the face of the Earth" if it attacks US vessels carrying out what he termed 'Project Freedom'. Trump, who launched the project over the weekend, said the US will free up ships which were stuck in the Strait of Hormuz. "We have the best equipment. We have stuff all over the world. We have these bases all over the world... we can use all of that stuff, and we will, if we need it," Trump said.
Meanwhile, shares of the data analytics firm Palantir Technologies fell by over 3% even as the company raised its annual revenue forecast and beat estimates for the quarter ended March. Shares of Duolingo Inc. tumbled more than 10% in after-hours trading after the language-learning company topped first-quarter expectations, but signalled again that 2026 will bring slower growth and higher costs. Investors will watch the April jobs report, due later Tuesday, to gauge the resilience of the labour market.
The following were the closing levels of major US indices on Monday:
|
US Indices |
Levels |
Change in % |
|
Dow Jones Industrial Average |
48941.90 | (-)1.13 |
|
NASDAQ Composite |
25067.801 | (-)0.19 |
|
S&P 500 |
7200.75 | (-)0.41 |
(Ruchira Kagita)
US$1 = INR 95.09
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Saji George Titus
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