US shares open lower amid growing geopolitical tension
(Il Sole 24 Ore Radiocor) - Milano, 4 mag - US shares opened mainly lower as investors reacted to developments in the Strait of Hormuz.
In a post yesterday US president Donald Trump announced that the US would 'use best efforts' to get ships not involved in the US-Iran conflict out of the Strait, the narrow waterway that handled roughly a fifth of global energy flows before the conflict erupted.
Iran replied by threatening to attack US warships and any commercial vessels looking to pass through the waterway without Iranian permission.
Earlier today Iranian media said Tehran had launched an attack on a US patrol ship while a US warship in the Strait of Hormuz had been turned back. Washington denied the reports.
In an interview today with Fox News US treasury secretary Scott Bessent said Washington had full control of Hormuz and was reopening the waterway.
On the stocks front, shares in eBay rose 5.4% in early trade after GameStop CEO Ryan Cohen made an unsolicited bid for the e-commerce company worth around 56 billion dollars. Tyson Foods fell 2.3% after adjusted earnings per share fell.
Palantir and Paramount Skydance will unveil their latest quarterly results after the closing bell.
Just after the opening bell the Dow Jones was down 151.46 points, or 0.31%, at 49,347.81 points, the S&P 500 was down 1.74 points, or 0.02%, at 7,228.38, while the Nasdaq was up.
1.77 points, or 0.01%, at 25,116.22.
(RADIOCOR) 04-05-26 15:51:39 (0433) 5 NNNN