Wall Street closed lower on Thursday as investors stayed cautious, tracking the impact of Trump’s 10-day pause on Iran energy strikes and ongoing U.S.-Iran talks.The Nasdaq Composite, the S&P 500, and the Dow all ended in negative territory.
How Did the Benchmarks Perform?
The Dow Jones Industrial Average (DJI) fell 1%, or 469.38 points, to close at 45,960.11.Twenty-two components of the 30-stock index ended in negative territory, while eight ended in positive territory.
The Dow’s major loser was NVIDIA Corporation (NVDA). The stock price of this computing infrastructure company fell 4.2%. NVIDIA currently carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
The tech-heavy Nasdaq Composite declined2.4% to close at 21,408.08.
The S&P 500 lost 1.7% or 114.74 points to end at 6,477.16. Out of the 11 sectors of the broad-market index, eight ended in negative territory, and two ended in positive territory, while one remained unchanged. The Communication Services Select Sector SPDR (XLC), the Information Technology Select Sector SPDR (XLK) and the IndustrialsSelect Sector SPDR (XLI) fell 3.5%, 2.7% and 2.3%, respectively, while the Energy Select Sector SPDR (XLE) rose 1.6%.
The fear gauge, the CBOE Volatility Index (VIX), increased 8.3% to 27.44. A total of 16.50 billion shares were traded on Thursday, lower than the last 20-session average of 20.54 billion. The S&P 500 posted 20 new 52-week highs and 8 new lows, while the Nasdaq Composite recorded 121 new highs and 202 new lows.
Trump HaltsIran Strikes for 10 Days
U.S. President Donald Trump announced on Thursday that attacks on Iran’s energy facilities would be put on hold for 10 days. The period will end on April 6, 2026, at 8 p.m. Eastern Time. Trump announced the moratorium on his social media platform, Truth Social. He also said that talks with Iran were “very well”. He did not provide further details on the diplomatic discussions, but suggested that the pause would serve as a window of time during which Trump and Iran’s officials would assess the progress of their talks for any meaningful outcomes.
Economic Data
For the week ending March 21, initial jobless claims were 210,000, an increase of 5,000 from the previous week’s unrevised level of 205,000. The 4-week moving average was 210,500, adecrease of 250 from the previous week’s unrevised average of 210,750.
Continuing claims during the week ending March 14 were 1,819,000, adecrease of 32,000 from the previous week’s revised level. The previous week’s level was revised down by 6,000 from 1,857,000 to 1,851,000. The 4– week moving average was 1,847,000, a decrease of 2,000 from the previous week’s revised average. This is its lowest level since Oct. 5, 2024, when it was 1,845,750. The previous week’s average was revised down by 1,500 from 1,850,500 to 1,849,000.
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