The main Wall Street indices slipped in early trade on Thursday, as renewed tensions between the United States and Iran weighed on investors' sentiments.
S&P 500 was down 0.3% at 7,117.93, whereas the tech-heavy Nasdaq Composite declined 0.43% to 24,552.72 at 9:31 am EST.
The Dow Jones Industrial Average was down 0.46%, or 226 points, at 49,263.46.
Some of the notable movers on Thursday's session included IBM and ServiceNow, which declined 9% and 15%, respectively, after their latest quarterly earnings disappointed investors.
Shares of Tesla Inc. also slipped around 2% after CEO Elon Musk cautioned that capital expenditure would rise “substantially” as the company accelerates investments in AI-led self-driving technology and humanoid robotics.
ALSO READ: Trump Orders US Navy To Shoot Iran's Boats Placing Mines In Hormuz
“Stocks are trying to find their footing after an incredible rebound off the March lows,” said Chris Kampitsis, managing partner at Barnum Financial Group's The SKG Team, while speaking to CNBC.
The Bloomberg Dollar Spot Index was largely unchanged, reflecting muted moves in the currency market. Meanwhile, the benchmark 10-year US Treasury yield edged lower by 1 basis point to 4.29%.
Crude oil prices, meanwhile, stayed elevated, with the benchmark Brent crude trading 1% higher at $102.9 per ounce at 10:43 am EST. The West Taxes Intermediate futures were up 0.43% at $93.41 an ounce.
The bullion market, however, edged lower, with US spot gold trading 0.19% lower at $4,731.1 an ounce. US spot silver was trading 1.8% lower at $76.35.
ALSO READ: Nifty, Sensex Slump For Second Day On Negative Global Cues Over Lack Of Progress In US-Iran Talks
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