(Il Sole 24 Ore Radiocor) - Milano, 20 mar - US shares were trading lower at midday, and are on track for a fourth week of losses, as investors focused on the latest developments in the Iran war.

Oil remained volatile after a media report claiming Washington was considering occupying or blockading Kharg Island as a way of pressuring Iran into reopening the Strait of Hormuz, a critical chokepoint for global oil trade.

The US is stepping up efforts to get tankers moving again through the Strait after telling its ally Israel not to target Iranian gas fields.

Tehran meanwhile continues to target energy infrastructure in the Gulf with a refinery in Kuwait the latest asset to come under attack.

Meanwhile, Federal Reserve governor Christopher Waller said he was cautious about current economic conditions but said an interest rate cut may be possible later this year if the labor market stayed weak.

On the stocks front, shares in Super Micro Computer slumped 28.14% after the company's co-founder and two others were charged with smuggling Nvidia chips into China. FedEx shares were up 1.85% after better-than-expected third-quarter results.

At 1639 GMT, the Dow Jones was down 2239.65 points, or 0.52%, at 45,781.77 points.

The S&P 500 was 55.83 points, or 0.85%, lower at 6,560.66 points.

The Nasdaq was losing 279.50 points, or 1.27%, at 21,811.19.

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(RADIOCOR) 20-03-26 17:42:04 (0468) 5 NNNN