Traders work on the floor of the New York Stock Exchange on April 23, 2026.
Gina Moon | Reuters
Stocks fell on Thursday, led by a decline in software and rising oil prices, as investor uncertainty over the course of the Iran war hung over the market.
of S&P500 The stock fell 0.41% to close at 7,108.40 after hitting a new intraday high the previous day. High-tech oriented Nasdaq Composite It fell 0.89% to end at 24,438.50. It also set a new record for the session. of Dow Jones Industrial Average He lost 179.71 points (0.36%) and finished at 49,310.32.
IBM and ServiceNow stock prices fell more than 8% and nearly 18%, respectively, after the companies reported their latest quarterly results. Although IBM beat on sales and bottom line, the company maintained its full-year outlook, disappointing investors. In ServiceNow’s case, the company’s subscription revenue growth was hampered by the Middle East conflict.
Other software stocks followed suit, falling into the red. microsoftFor example, it fell by about 4%. Palantir Technologies While it fell more than 7%, oracle It decreased by about 6%. of iShares Enhanced Technology Software Sector ETF (IGV) It also fell by about 6%.
“Stocks are trying to find their footing after an incredible rebound from the March lows,” said Chris Campisis, managing partner of The SKG Team at Burnham Financial Group. “We expect stocks to remain range-bound in the short term as the market waits for the next trigger.”
Kampitsis noted that markets are ultimately “becoming less sensitive to Iranian news headlines,” but Thursday’s war remains weighing on stocks, with the war now escalating into a maritime standoff between the United States and Iran amid an uneasy ceasefire. The two countries are fighting over control of the Strait of Hormuz and seized a merchant ship this week.
President Donald Trump on Thursday ordered the Navy to “shoot and kill every vessel” that is laying mines along the Strait. “There is no need to hesitate,” the president said in a post on Truth Social.
Later in the day, oil prices rose; brent crude oil futures Prices settled above $105 a barrel after Israel’s N12 news reported that Iran’s parliament speaker had resigned from the negotiating team, raising concerns that the Revolutionary Guards were taking tighter control. CNBC has not yet confirmed this report.
Reuters reported on Thursday, citing Iran’s Mehr news agency. This came after it was reported that air defense batteries had been activated in the capital.
President Trump said this week that extending the ceasefire was justified because Tehran’s government is “deeply fractured.”
