US stocks pare losses at close; Dow sheds 400 points

The Dow Jones Industrial Average fell 0.83%, or 403 points, to 48,501 after earlier dropping to 47,626 during the session.

The broader S&P 500 declined 0.94%, or 64 points, to 6,816, while the Nasdaq Composite slipped 1%, or 232 points, to 22,516.

The software sector posted gains for a second consecutive session, with the iShares Expanded Tech-Software Sector ETF rising 1.63% to $84.12, helping limit broader market losses.

In Europe, the Stoxx Europe 600 index fell 3% to 604 points at the close, amid losses across all sectors, particularly banks, insurance, travel, and defense industries.

The UK’s FTSE 100 dropped 2.75% to 10,484 points, while Germany’s DAX declined 3.44% to 23,790 points, and France’s CAC 40 fell 3.46% to 8,103 points.

In Japan, the Nikkei 225 slid 3% to 56,279 points, marking its sharpest decline since November 2025, while the broader Topix index dropped about 3.24% to 3,772 points.

In oil markets, Brent crude futures for May delivery rose 4.71%, or $3.66, to $81.40 per barrel.

Meanwhile, US Nymex crude futures for April delivery climbed 4.70%, or $3.30, to $74.56 per barrel.

As for gold, April gold futures declined 3.53%, or $187.90, to $5,123.70 per ounce.

Wall Street received support from strong performance in the software sector and bargain buying in stocks that had fallen due to the repercussions of the war in the Middle East, in addition to US President Donald Trump’s announcement of a plan to secure oil and gas tankers passing through the Strait of Hormuz.