Stocks tick lower after Trump vows to hit Iran ‘extremely hard’ in coming weeks

Stocks ticked lower in volatile trading on Thursday after President Donald Trump delivered a televised address vowing to hit Iran “extremely hard” over the coming weeks.

The Dow Jones Industrial Average fell 75 points, or 0.1%, after opening down by 600 points, while the S&P 500 dropped 0.06%. The tech-heavy Nasdaq declined 0.1%.

Each of the major indexes tumbled more than 1% in early trading, but they quickly recovered most of those losses.

The rollercoaster trading followed losses across Asian and European markets. Tokyo’s Nikkei 225 index slipped 2.3% and the pan-European STOXX 600 fell 0.6%.

Oil prices, meanwhile, surged as traders feared a persistent supply shortage amid the ongoing U.S.-Israeli war with Iran. U.S. oil prices climbed more than 8% on Thursday, registering at about $108 a barrel.

Gasoline prices in the U.S. ticked up to $4.08 on average per gallon, marking a leap of $1.09 over the past month, AAA data showed.

This is a developing story. Please check back for updates.