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Informist, Thursday, Jun. 4, 2026                                      Tel +91 (22) 6985-4000

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Equity Alert: US indices fall; S&P 500, NASDAQ snap 9-day gaining streak

 

MUMBAI--0740 IST--All the three major US indices closed in the red Wednesday as the war between the US and Iran escalated. The S&P 500 and the NASDAQ Composite snapped their nine-day gaining streak. The Dow Jones Industrial Average posted a steeper decline compared with the technology-heavy NASDAQ and the broader market S&P 500 indices. The Dow Jones' five-day gaining spell broke as the index closed over 600 points lower.

 

In the blue-chip Dow Jones, shares of International Business Machines Corp., Salesforce, and Honeywell International were the top losers, down 5–7%. Only four of the S&P 500 sectoral indices closed in the green, with the S&P 500 Energy being the best performer. The energy index closed more than 1% higher. Shares of energy giants ExxonMobil and Chevron closed over 1% higher. 

 

In some more news, Elon Musk-led SpaceX plans to set its price for the initial public offer at $135 per share to raise $75 billion, Reuters reported, citing sources. The satellite operator plans to sell 555.6 million shares and achieve a valuation of $1.75 trillion, Reuters' source said. The media agency also reported that JPMorgan Chase Chief Executive Officer Jamie Dimon will pitch the SpaceX IPO to the bank's wealthy clients this week. 

 

Meanwhile, the economic impact of the war in West Asia will depend on how long the crucial Strait of Hormuz remains closed, Lorie Logan, the president and CEO of the Federal Reserve Bank of Dallas, said Wednesday at the University of Texas. "The impact in the Middle East has been the most significant disruption in energy in history," Logan said. "We in the US have been less impacted," Logan said while pointing out that the US is a net exporter of crude oil. Logan said she sees further upside risks to inflation, and the labour market is seen to be stable. "We need at least mildly restrictive policy" to bring inflation down to 2%. 

 

The following were the closing levels of major US indices on Wednesday:

 

US Indices	Levels	Change in %
Dow Jones Industrial Average	50687.07	(-)1.21
NASDAQ Composite	26853.976	(-)0.89
S&P 500	7553.68	(-)0.74

 

(Ruchira Kagita)

 

US$1 = INR 95.70

IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT

 

Edited by Akul Nishant Akhoury

 

All prices from National Stock Exchange, unless otherwise specified.

All percentage changes for share prices are rounded off to the nearest whole number; percentage changes for index values are rounded off to one decimal place.

All times are Indian Standard Time.

 

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