US equity indices pared steep losses on Thursday, with the S&P 500 and Nasdaq closing down just 0.2% and the Dow Jones Industrial Average finishing 0.3% lower after rebounding from four-month lows. Market volatility across asset classes eased as US crude retreated toward $94 per barrel, following comments from Israeli Prime Minister Benjamin Netanyahu that Israel is helping the US reopen the strategically important Strait of Hormuz. These developments helped moderate earlier stagflation concerns as investors assessed remarks from US President Donald Trump and Treasury Secretary Scott Bessent on diplomatic efforts to restore global energy supply chains.
In corporate news, Micron Technology shares slipped nearly 3% despite a robust revenue outlook, as investors focused on the company’s elevated capital spending plans. Other major technology names also came under pressure, with Meta down 1.7% and Nvidia off 1.2%. In fixed income, Treasury yields rebounded from their intraday lows as bonds retreated from their strongest levels following the latest geopolitical updates.